Chapter 3 of that quarterly consultation paper proposed to re-align disclosure requirements in BCOBS 4.3.4(2) for non-ring fenced bodies with the geographic scope of core deposits which must be ring-fenced, following changes to legislation.
FCA now publishes the Banking: Conduct of Business Sourcebook (Disclosure by Non Ring-Fenced Bodies) (Amendment) Instrument 2025 (FCA 2025/35) which amends the FCA Handbook Glossary, as well as BCOBS 4.3.3, BCOBS 4.3.4 and BCOBS 4.3.5.
These rule changes come into force from Aug. 1, 2025.
On Mar. 7, UK FCA issued quarterly consultation paper 47, CP25/4.
Once a quarter, FCA consults on proposed miscellaneous amendments to the FCA HB.
Follows UK FCA Dec. 2024 issued quarterly consultation 46, CP24/26, see #236303.
Proposed Changes
Annual consultation for TC Appendix 4 and the Glossary to amend the names and activity numbers of appropriate qualifications and providers where there have been changes, and remove qualifications no longer offered to part 2B of the table.
To re-align disclosure requirements in BCOBS 4.3.4(2) for non-ring fenced bodies with the geographic scope of core deposits which must be ring-fenced, after law change.
To ensure that UK FSCS's electronic assignments (set out in COMP 7.2.3AA) are compatible with and acknowledge the requirements set out in Scots law.
Amend UKLR 11.5.5 (relevant related party transactions) to include requirement from old listing rules, (LR 11.1.7(4)), which had effect of requiring the company to exclude related party and their associates from voting on shareholder resolution on transaction.
Amend DISP to clarify eligibility of complaints made against firms with whom the complainant has an indirect relationship, where complainant is a beneficiary or a person with a beneficial interest in a personal pension or stakeholder pension scheme.
Consultation End
Feedback on the majority of the proposals should be submitted by Apr. 14, 2025.
And feedback on proposals to amend DISP should be submitted by May 5, 2025.
Chapter 2 of that QCP concerned annual amendments to Training and Competence sourcebook to amend list of appropriate qualifications, remove those no longer offered.
Changes now made by the Training and Competence Sourcebook (Amendment) Instrument 2025 (FCA 2025/25), which amends the Handbook Glossary of definitions.
And appropriate qualification tables at TC 4.1, instrument is in force on Jun. 27, 2025.
Chapter 5 of CP25/4 proposed to amend UKLR rule on relevant related party transactions to add back effect of former rule requiring the company to exclude related party and their associates from voting on shareholder resolution on transaction.
Amendment is now made by UK Listing Rules (Amendment) Instrument 2025 (FCA 2025/26) which updates UKLR 11.5.5, UKLR 11.6.6, instrument in force Jun. 27, 2025.
Chapter 3 of that quarterly consultation paper proposed to re-align disclosure requirements in BCOBS 4.3.4(2) for non-ring fenced bodies with the geographic scope of core deposits which must be ring-fenced, following changes to legislation.
FCA now publishes the Banking: Conduct of Business Sourcebook (Disclosure by Non Ring-Fenced Bodies) (Amendment) Instrument 2025 (FCA 2025/35) which amends the FCA Handbook Glossary, as well as BCOBS 4.3.3, BCOBS 4.3.4 and BCOBS 4.3.5.
These rule changes come into force from Aug. 1, 2025.
