FCA has issued a Handbook Notice summarising rule changes finalised over recent months. Key among them are:
- the new section on COBS (22.6) to ban derivatives and ETNs that reference certain cryptoassets to be marketed or sold to retail clients (coming into force 6 January 2021 and amended by one of the many onshoring instruments);
- several onshoring instruments to reflect the end of the transition period, and 3 instruments amending BTS;
- changes to MCOB 11.9 to extend the communications deadline to enable firms to stagger sending out communications to relevant mortgage borrowers, although they must still complete this within a reasonable period (effective from 23 October); and
- changes to MCOB 11.6 to make is easier for some borrowers to switch to better deals within their lender’s group (effective from 23 October).