FCA makes new rules

FCA made 4 new rules instruments at its June Board meeting.

  • new fees rules taking effect from 3 July, to raise fees and levies to provide funding for the FOS and MAS to meet their statutory objectives, and to raise necessary funds for pensions guidance services and for Treasury to tackle illegal money lending;
  • the “Future Services Restrictions Instrument” taking effect from 3 January 2018, which mainly amends COBS to allow clients greater freedom of choice when selecting suppliers for primary market services;
  • changes to MAR in relation to inside information relating to commodity derivatives, to ensure consistency with the Market Abuse Regulation and consistency with ESMA guidelines, taking effect from 23 June
  • changes to SUP taking effect partly on 1 July and partly on 31 October to clarify certain data reporting items.