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