FCA makes new rules

FCA has made new rules. The changes affect several parts of the Handbook, including:

  • miscellaneous minor and clarificatory changes, including a change to the application chapter of SYSC to clarify that certain rules in SYSC 4.3A do not apply to an AIFM investment firm that is not a CRR firm;
  • changes to make the Handbook consistent with the Benchmarks Regulation and to enable FCA to supervise benchmark administrators and contributors;
  • changes to FEES to bring special projects fees in line with those set by PRA and to clarify the definition of “income” for some fee-tariff bases;
  • changes to IFPRU to ensure all rules on contractual recognition of bail-in are consistent and in one place, clarify the application of the Recovery and Resolution Directive and set out the large exposure limits for transitional arrangements in the CRR; and
  • changes to SUP 16 to ensure compliance with EBA guidelines on security measures under PSD2