The FCA has published its latest Handbook Notice, which confirms the following updates:
- Amendments to FEES including to:
- Add the 2025/26 management expenses levy limit figures;
- Increase registration fees for small payment institutions and non-crypto firms registering under the MLRs;
- Clarify when a firm becomes liable to pay fees relating to a skilled person appointment;
- Introduce new rules to align with the new 2-stage process for validation order applications;
- Change the fee model for certain principal firms of ARs and introducer ARs; and
- Delay the in-force date for the expanded definition of ‘relevant business’;
- Requiring all debt management firms that hold client money to commission and submit a CASS audit;
- Ensuring relevant sourcebooks refer to the latest version of the UK Corporate Governance Code; and
- Disapplying activity-specific requirements for a firm carrying on the core functions of a digital securities depository and related ‘category 1’ ancillary activities for the purposes of enabling the core functions of a digital securities depository in the Digital Securities Sandbox.
There were also some minor administrative changes to sections of COBS, SUP, FPCOB and UKLR.