The FCA has published Handbook Notice 136, which sets out a number of changes, most of which we’ve reported on elsewhere, including:
- Removing regulatory contactless limits and implementing a new risk-based exemption to give flexibility to banks and PSPs in determining contactless limits;
- Extending the deadline firms have to send responses to certain motor finance complaints;
- Introducing a new product information regime to assist consumers in understanding investment products;
- Amendments to complaints reporting processes;
- Simplifying wholesale insurance rules;
- Implementing the non-financial misconduct rules and guidance changes;
- Amending the conditions applicable to the Ancillary Activities Exemption;
- Clarifying guidance in DEPP on financial penalties and public censure;
- Reducing the frequency of reporting requirements and data collections; and
- Implementing rules on sustainability labelling criteria for fund managers.