FCA has published its final Brexit rulebook onshoring instruments and guidance, and directions under its Temporary Transitional Power.
The final instruments are largely unchanged from the “near final” versions consulted on in September. There are changes to the Handbook and instruments amending Binding Technical Standards so that they will operate effectively under UK law. Some changes will be specific to firms in the TPR and Gibraltar firms, and some changes will reflect the provisions that are not subject to the TTP (such as the RAO exemption for agreements that would previously have been regulated mortgage contracts). Other changes include consequential changes to the SMCR and approved persons regime.
The TTP directions explain how the TTP applies and where it does not.