We’ve scoured the FCA website to bring you a list of the workstreams that have been delayed. Through delaying these workstreams, the FCA can focus on the evolving pressures Covid-19 is putting on firms and consumers.
We will update this post regularly when further information is published but so far, we can confirm that the following workstreams have been delayed:
Delayed rule implementation
- PS 20/3: Signposting to travel insurance for consumers with medical conditions (now TBC)
- PS18/20: Improving the quality of pension transfer advice (Pension Transfer Specialist Qualifiations) (1 October 2021)
- PS19/21: Retirement Outcomes Review (1 February 2021)
- PS19/29: Making Transfers Simpler (1 February 2021)
Delayed Consultations (responses now due by 1 October 2020)
- CP20/1: Introducing a SEAR for cash savings
- CP19/32: Building operational resilience), the PRA has also delayed its consultation
- CP20/04: Quarterly Consultation No 27
- CP20/03: Propoals to enhance climate-related disclosures by listed issuers and clarification of existing disclosure obligations
- CP20/05: Consultation paper on ETF Listing: Premium to Standard Listing
Delayed Calls for Input (responses now due by 1 October 2020)
- Open Finance
- Accessing and using wholesale data
Other Delayed Publications: unless otherwise stated, there is now no set date for these publications, most of which were originally due during Q1 2020
- GC19/3: Guidance for firms on the fair treatment of vulnerable customers (response was due H1 2020)
- Publication of the Climate Financial Risk Forum guide (was due to be published in early 2020)
- MS18/1: General insurance pricing practices market study (final market study report and potential consultation paper were due in June 2020)
- CP19/1: Credit Information market study (preliminary conclusions were due in Spring 2020)
- CP19/28: Motor finance discretionary commission models and consumer credit commission disclosure (policy statement was due Q2 2020)
- FS19/2: further paper on a duty of care and potential alternative approaches
- the 2020 stress tests will not take place
- the joint BoE/FCA survey into open ended funds, non-critical data requests, on-site visits and deadlines, including s166 reviews are all postponed
- the planned changes to IRB models will now take effect from 1 January 2022
- the report on lessons learnt from the interest rate hedging products review, due in September, will not be ready until early 2021
- Consumer Credit Act review (follow up to report on retained provisions;
- CP on FCA’s approach to market integrity and wholesale markets
- CP on investment platforms exit fees remedy
- CP onCMC fees rules project
- CP on aligning FCA guidance on selective disclosures with case law
- CP on removing the minimum repayment limit from the manual repayment screen of credit card, store card and catalogue credit customers
- Consultation and Discussion papers on value for money
- CBEST thematic assessment review
- Multi firm reviews on key findings on the sale and advice of equity release and wholesale broker remunerations
- GI value measures pilot
- feedback on intergenerational differences
- PS on pension transfer advice: contingent charging and other changes
- DP on prudential requirements for MiFID investment firms
- Publication of the Directory
- Assessing suitability review 2