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Delayed FCA Consultation Papers and Publications

In light of the ongoing coronavirus crisis, the FCA has taken action to extend the closing date for responses to its open consultation papers and Calls for Input until 1 October 2020.

Its programme of routine business interactions has also been scaled back in response to the outbreak. Firms will only be contacted on business-critical requests and responses to the current situation.

The following consultation papers have been delayed:

  • CP20/4: Quarterly Consultation No 27
  • CP19/32: Building operational resilience: Impact tolerances for important business services
  • CP20/1: Introducing a Single Easy Access Rate for cash savings
  • CP20/3: Proposals to enhance climate-related disclosures by listed issuers and clarification of existing disclosure obligations
  • CP20/5: Consultation paper on ETF Listing: Premium to Standard Listing

The following Calls for Input have been delayed:

  • Open Finance
  • Accessing and using wholesale data

There will also be delays to other publications which had been due before the end of June. These are as follows:

  • Joint PRA FCA work to develop industry led guidance on how to integrate climate related risks into business decision making across the FS sector
  • Motor Finance Policy Statement
  • Consultation Paper on mortgage switching
  • Vulnerability Guidance
  • Vulnerability Research
  • Options to change our regulatory framework following our Duty of Care Feedback Statement
  • Consumer Credit Act (CCA) review
  • Credit Information Market Study – Interim Report
  • GI Pricing Final report and Consultation Paper on remedies

Updates will follow on above list at an “appropriate point.”

The coronavirus situation continues to change day-by-day. Firms should continue to keep up-to-date with the FCA’s latest guidance as well as government advice.

For the latest government guidance, go here: https://www.gov.uk/guidance/coronavirus-covid-19-information-for-the-public

About the author

Ash Patel

Ash is Managing Director at RWA. He has over 15 years’ experience in the legal and compliance field and ten years in broker sales and leadership roles in national and global insurance firms.

He is highly skilled in the application of risk-based regulation, working closely with businesses at executive and board level to develop commercially viable, compliant systems and controls. Ash is adept in providing solutions-based interpretations of the FCA’s technical standards and facilitating the transfer of compliance skills and education needed for businesses to self-manage their own compliance and training needs.