| 1 | A guide to PLC Financial Services' remuneration materials A guide to the remuneration materials available to PLC Financial Services subscribers. | Practice note: overview | Maintained |
| 2 | FCA and PRA high level standards: overview An overview of the high level standards contained in Block 1 of the FCA and PRA Handbooks of Rules and Guidance. | Practice note: overview | Maintained |
| 3 | FSA review of retail banking business regulation This practice note outlines the FSA's proposals to regulate retail banking conduct of business as set out in CP08/19, PS09/6, CP09/20 and Handbook Notice 92. The FSA implemented these proposals on 1 November 2009 when it introduced its new Banking Conduct Regime for retail banks. For more information on this new regime, see Practice note, FSA's Banking Conduct Regime: overview. The key primary source material table in this note contains links to key primary source material and related PLC Financial Services Legal updates. It is not intended to be an exhaustive list of all relevant materials published by interested parties. | Practice note: overview | 31-Oct-2009 |
| 4 | FSMA controllers regime: overview An overview of the regime that applies to controllers, and prospective controllers, of authorised firms under the Financial Services and Markets Act 2000 (FSMA). It also acts as an introduction to PLC Financial Services' suite of notes on the FSMA controllers regime. | Practice note: overview | Maintained |
| 5 | Hot topics: Banking Reform Bill A note outlining the progress of the UK government's proposals for the Financial Services (Banking Reform) Bill (also referred to as the Banking Reform Bill). The main aim of the Bill is to give HM Treasury and the relevant regulators powers to implement the recommendations of the Independent Commission on Banking (ICB) on ring-fencing requirements for the banking sector. For more information on the recommendations of the ICB, see Practice note, The Vickers report on banking. The key primary source material table in this note contains links to key primary source material and related PLC Financial Services legal updates. It is not intended to be an exhaustive list of all relevant materials published by interested parties. | Practice note: overview | Maintained |
| 6 | Hot topics: Corporate governance in financial services firms This note provides a brief explanation of why corporate governance is a "hot topic" in the financial services sector, outlines the key UK, EU and international developments in this area, and contains a timeline setting out milestones for future development of these initiatives. The following multi-jurisdictional guide is also available to PLC Financial Services' subscribers: Corporate Governance and Directors' Duties. It brings together a range of information on current cross-border issues and includes country-specific Q&A guides. Each jurisdiction is described in a separate chapter, written by one of the leading firms on the subject in that jurisdiction. | Practice note: overview | Maintained |
| 7 | Insurance conduct of business regime: an overview This is one of a suite of three notes, produced by Pollyanna Deane, a partner, and Katherine Lamb, an associate, in Simmons & Simmons LLP's Corporate & Commercial Group, which provide an overview of the FSA's insurance conduct of business requirements in the Conduct of Business sourcebook (COBS) and the Insurance: Conduct of Business sourcebook (ICOBS). This note: Explains the background to insurance conduct of business regulation. Helps subscribers to identify whether to apply COBS or ICOBS in any particular situation. Explains how these requirements are likely to change as a result of developments at both the UK and EU levels. Sets out a number of overarching concepts that are helpful to bear in mind when considering the intention behind these requirements. This note is in the process of being updated by its authors to reflect the new UK regulatory structure that came into effect on 1 April 2013. The other notes in the suite, both of which provide an overview of relevant FSA requirements in table format, are Practice notes, Insurance conduct of business regulation: COBS overview and Insurance conduct of business regulation: ICOBS overview. | Practice note: overview | Maintained |
| 8 | Insurance sector hot topics: resources overview An overview of the key hot topics for the UK insurance industry, which links to separate hot topics practice notes for each of the topical issues identified. Each of the separate hot topics practice notes outlines a particular topic, tracks its development and sets out the milestones for future development. In addition, each of the separate notes contains links to key primary source material and related PLC Financial Services Legal updates. For information on the hot topics affecting the financial services sector generally, see Practice note, Financial Services hot topics: resources overview. | Practice note: overview | Maintained |
| 9 | Remuneration tracker: key European developments This resources document identifies and tracks the progress of key regulatory developments at European level relating to remuneration policies and practices in the financial services sector. It contains links to key primary source material and related PLC Financial Services content relating to these developments. However, it is not intended to be an exhaustive list of all European materials relevant to remuneration policies and practices in the financial services sector. For the full range of remuneration materials available to PLC Financial Services subscribers, including trackers, practice notes and articles, see Practice note, A guide to PLC Financial Services' remuneration materials. | Practice note: overview | Maintained |
| 10 | Remuneration tracker: key international developments This resources document identifies and tracks the progress of key regulatory developments at international level relating to remuneration policies and practices in the financial services sector. It contains links to primary source material and PLC Financial Services content relating to these developments. However, it is not intended to be an exhaustive list of all international materials relevant to remuneration policies and practices in the financial services sector. For the full range of remuneration materials available to PLC Financial Services subscribers, including trackers, practice notes and articles, see Practice note, A guide to PLC Financial Services' remuneration materials. | Practice note: overview | Maintained |
| 11 | Remuneration tracker: key UK developments This resources document identifies and tracks the progress of key financial services regulatory developments at UK level relating to remuneration policies and practices in the financial services sector. It contains links to key primary source material and PLC Financial Services content relating to these developments. However, it is not intended to be an exhaustive list of all UK materials relevant to remuneration policies and practices in the financial services sector. For an overview of the full range of remuneration materials available to PLC Financial Services subscribers, including trackers, practice notes and articles, see Practice note, A guide to PLC Financial Services' remuneration materials. | Practice note: overview | Maintained |
| 12 | Remuneration tracker: market practice materials This resources document covers UK, European and international market practice initiatives in response to regulatory measures and concerns relating to financial services sector firms' remuneration policies and practices. It contains links to primary source material and related PLC Financial Services content. However, it is not intended to be an exhaustive list of all market practice materials relevant to remuneration policies and practices in the financial services sector. For the full range of remuneration materials available to PLC Financial Services subscribers, including trackers, practice notes and articles, see Practice note, A guide to PLC Financial Services' remuneration materials. | Practice note: overview | Maintained |
| 13 | Senior Management Arrangements, Systems and Controls ... A high level overview of the FCA and PRA's requirements for firms' directors and senior management, as set out in the part of their Senior Management Arrangements, Systems and Controls sourcebooks(SYSC). | Practice note: overview | Maintained |
| 14 | Treating customers fairly: an overview An overview of the FSA's requirements on firms to treat their customers fairly, the FSA's expectations and what it means for firms. This note is in the process of being updated by the author, including amendments to reflect the new UK regulatory structure that comes into effect on 1 April 2013. | Practice note: overview | Maintained |
| 15 | Treating customers fairly: resources A document containing links to key primary source material published by the FCA (and its predecessor the FSA) in relation to its treating customers fairly (TCF) related work, and material published as part of the FSA's TCF initiative. It also links to industry guidance, comment and initiatives on TCF. This document is not intended to be an exhaustive list of all 'Treating Customers Fairly' materials published by interested parties. | Practice note: overview | Maintained |
| 16 | UK Corporate Governance Code: overview This note provides an overview of the UK Corporate Governance Code. | Practice note: overview | Maintained |
| 17 | What is MiFID business? This practice note explains the circumstances in which a firm will be carrying on MiFID business as the term is defined in the FCA Glossary. | Practice note: overview | Maintained |
| 18 | Advice and suitability: FSA thematic work (2007-13) An outline of the FSA's thematic work from 2007 to March 2013 on advice and suitability, summarising and linking to review reports and non-FSA Handbook guidance (including good and poor practice guidelines) published by the FSA. A key focus of the note is the quality of advice relating to investment, mortgage, structured investment and pension products. It also summarises proposals to amend the FSA's rules in this area. Note tha | Practice notes | 25-Mar-2013 |
| 19 | Approved persons regime: Intensive supervision of SIF ... An overview of the more intensive approach taken towards the approval and supervision of persons performing significant influence functions (SIFs) within FCA-authorised firms and PRA-authorised firms. This note covers: What a SIF is. Why intensive supervision of SIF-holders came about. How this supervisory approach evolved under the FSA's regime. Key aspects of the approval and supervision of SIFs. Potential forthcoming changes to the SIF framework. | Practice notes | Maintained |
| 20 | Approved persons regime: Statements of Principle and Codes ... An overview of the Statements of Principle and Codes of Practice for Approved Persons issued by the FCA and the PRA under the Financial Services and Markets Act 2000 (FSMA). These set out the FCA and the PRA's expectations of the conduct of approved persons. They are located in the APER module of the FCA and PRA Handbooks. | Practice notes | Maintained |
| 21 | Approved persons regime: the fit and proper test An overview of the fit and proper test for approved persons as set out in the FIT module of the FCA and PRA Handbooks. Candidates for approval must satisfy these standards in order to be granted approval to perform specified controlled functions for firms and, once approved, approved persons must continue to satisfy them on an ongoing basis. | Practice notes | Maintained |
| 22 | Consumer financial promotions: FSA thematic work (2008-11) This practice note outlines the FSA's thematic work and consultations, as well as non-Handbook guidance published by the FSA, aimed at improving the quality of consumer financial promotions, in the period from 2008 to February 2011. | Practice notes | 28-Feb-2011 |
| 23 | Consumer Protection from Unfair Trading Regulations 2008 A commentary on the Consumer Protection from Unfair Trading Regulations 2008 (SI 2008/1277) which implemented the Unfair Commercial Practices Directive (2005/29/EC) in the UK by introducing a general prohibition on traders treating consumers unfairly and requiring businesses not to mislead consumers through acts or omissions or subject them to aggressive commercial practices. | Practice notes | Maintained |
| 24 | Consumer redress schemes: FCA powers This practice note considers the FCA's rule-making powers to require a firm to establish and operate a consumer redress scheme under sections 404 and 404A to 404G of the Financial Services and Markets Act 2000 (FSMA). The note outlines the scope of these powers, related FSA and FCA guidance on the use of these powers and some examples of how the power has been used. | Practice notes | Maintained |
| 25 | FCA and PRA conflicts of interest requirements An overview of the FCA and PRA's conflicts of interest requirements in chapter 10 of the Senior Management Arrangements, Systems and Controls sourcebooks (SYSC 10). | Practice notes | Maintained |
| 26 | FCA appropriateness requirements: COBS 10 This note outlines the FCA's appropriateness requirements for firms carrying out non-advised investment services and, in particular, the appropriateness test that such firms have to carry out in certain circumstances. It focuses on the rules and guidance contained in chapter 10 of the FCA's Conduct of Business sourcebook (COBS 10). It also highlights non-Handbook guidance on assessing appropriateness published by the FCA's predecessor, the FSA, and further guidance published by other key UK and European bodies. | Practice notes | Maintained |
| 27 | FCA confirmed industry guidance An outlines the FCA's framework for confirming industry guidance, including: The status and significance of FCA confirmed industry guidance in the supervisory and enforcement context. The process followed by the FCA to confirm industry guidance, and the confirmation criteria. Guidance that has been confirmed. | Practice notes | Maintained |
| 28 | FCA suitability requirements: COBS 9 This note outlines the FCA requirements applicable to firms providing investment advisory and discretionary portfolio management services, when such firms are assessing the suitability of the advice they give to clients. It focuses on the rules and guidance contained in chapter 9 of the FCA's Conduct of Business sourcebook (COBS 9), and also highlights non-Handbook guidance on assessing suitability published by the FSA, as well as further guidance published by other key UK and European bodies. | Practice notes | Maintained |
| 29 | FCA supervisory model An overview of the approach that the Financial Conduct Authority (FCA) takes to the supervision of the firms that it regulates. This note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, Hot topics: New UK financial services regulatory structure. | Practice notes | Maintained |
| 30 | FCA's transaction reporting requirements This practice note sets out the FCA's transaction reporting requirements following the implementation of the Markets in Financial Instruments Directive (2004/39/EC) (MiFID) on 1 November 2007. It also contains practical guidance on the steps firms should consider taking in order to ensure that they comply with these requirements and the systems and controls they should have in place. | Practice notes | Maintained |
| 31 | FSA expectations of non-executive directors in ensuring ... This practice note provides an overview of the FSA's expectations of non-executive directors (NEDs) and outlines its proposals relating to NEDs, which are aimed at improving corporate governance within regulated firms. | Practice notes | 31-Dec-2012 |
| 32 | FSA Retail Distribution Review: pre-consultation stage An outline of the pre-consultation stage of the FSA's Retail Distribution Review (RDR). It includes a summary of the following FSA policy documents: - FSA Discussion Paper: A review of retail distribution (DP 07/1). - FSA Retail Distribution Review: Interim Report. - FSA Feedback Statement: Retail Distribution Review, including feedback on DP07/1 and the Interim Report (FS08/6). In June 2009, the FSA published Consultation Paper 09/18 entitled, 'Distribution of retail investments: Delivering the RDR' (CP09/18). CP09/18 sets out the FSA's detailed proposals to implement the findings from the RDR and amend its regulatory requirements to deliver changes to the way investments are distributed to retail consumers in the UK. For more information on the proposals in CP09/18, see Practice note, Hot topics: RDR implementation proposals. | Practice notes | 15-Dec-2008 |
| 33 | FSA's Banking Conduct Regime: post-implementation issues This practice note outlines post-implementation issues arising from the FSA's banking conduct regime, which came into force on 1 November 2009. In a report published in November 2010, the Financial Services Consumer Panel (FSCP) reviewed the regulatory effectiveness of the new regime one year on and called for the FSA to address issues in a number of areas. The FSA has expressed ongoing concerns at the "widespread disengagement" with the regime among banks and building societies. | Practice notes | 31-Dec-2012 |
| 34 | FSMA threshold conditions: introduction An introduction to the threshold conditions set out in Schedule 6 to the Financial Services and Markets Act 2000 (FSMA). The threshold conditions are the minimum requirements that both PRA-authorised and FCA-authorised firms need to meet in order to become and remain authorised. | Practice notes | Maintained |
| 35 | Historic high level standards practice notes This practice note contains links to PLC Financial Services' historic practice notes on the FSA's high level standards. Historic practice notes relate to legislation, rules, regulations and/or guidance that are no longer applicable as they have been superseded. They may, however, be of interest if it is necessary to consider the legal or regulatory position at a previous time. | Practice notes | Maintained |
| 36 | Impact of the Consumer Protection from Unfair Trading ... A brief overview of the Consumer Protection from Unfair Trading Regulations 2008 (SI 2008/1277) (CPRs) and their impact on firms authorised under the Financial Services and Markets Act 2000 (FSMA). | Practice notes | Maintained |
| 37 | June 2010 Budget and Finance (No 2) Act 2010: implications ... This practice note provides an overview of the initiatives and measures announced by the government in the "emergency" Budget of 22 June 2010 that will impact specifically on the UK financial services industry. It also contains links to those sections of relevant legislation (including the Finance (No 2) Act 2010 and subsequent Finance Bills), that implement, or introduce legislation to implement, the financial services measures in the June 2010 Budget. For details of the key financial services regulatory initiatives and measures announced by the government in the pre-election March 2010 Budget, see Practice note, March 2010 Budget and Finance Act 2010: financial services regulatory initiatives. | Practice notes | 27-Jul-2010 |
| 38 | OFT work on personal current accounts and the wider retail ... This practice note provides an overview of some of the OFT's work on the retail banking sector in the past few years. In particular, it outlines the OFT's test case on unauthorised bank overdraft charges, its related market study of personal current accounts (PCAs) and its recent PCA review. | Practice notes | Maintained |
| 39 | Outsourcing in the financial services sector This note outlines the FCA and PRA's rules and guidance on outsourcing and also considers the regulators' requirements regarding third party processors and outsourcing by recognised bodies. An overview of EU and international guidance in relation to outsourcing in the financial services sector is included as well. PLC Financial Services has also made available to subscribers PLC's multi-jurisdictional guide on outsourcing. This guide brings together a range of information on current cross-border issues and includes country-specific Q&A guides. Each jurisdiction is described in a separate chapter, written by one of the leading law firms on the subject in that jurisdiction. | Practice notes | Maintained |
| 40 | PPI misselling: FCA and FSA enforcement action A tracker providing details of key final notices issued by the FCA and the FSA relating to the sale of payment protection insurance (PPI). The tracker also identifies the relevant regulatory requirements, and outlines common themes and lessons that may be drawn from the final notices. | Practice notes | Maintained |
| 41 | PRA supervisory model An overview of the approach that the PRA takes to the supervision of PRA-authorised firms (sometimes referred to as dual-regulated firms). This note is part of a series of notes relating to the new UK financial services regulatory structure. For more information, see Practice note, A guide to the new UK financial services regulatory structure: index. | Practice notes | Maintained |
| 42 | Principles for Businesses An overview of the FCA and PRA's Principles for Businesses, including what they are, what their status is and who they apply to. | Practice notes | Maintained |
| 43 | Reforming pay policies and structures to comply with the ... A revised version of the FSA remuneration code came into force on 1 January 2011. Firms within the scope of the revised code need to ensure their remuneration policies and structures to comply with it. This note considers the key actions that each affected firm needs to take to comply with the revised code. | Practice notes | 31-Dec-2010 |
| 44 | Regulation of insurance in the UK An overview of the regulatory treatment of insurance business in the United Kingdom. The following multi-jurisdictional guide is also available to PLC Financial Services' subscribers: Insurance and Reinsurance Handbook. This guide brings together a range of information on cross-border issues and includes country-specific Q&A guides. Each jurisdiction is described in a separate chapter, written by one of the leading firms on the subject in that jurisdiction. | Practice notes | Maintained |
| 45 | Responsibilities of product providers and distributors for fair ... A summary of the key TCF responsibilities of product providers and distributors, as set out in the FSA's regulatory guide, Responsibilities of providers and distributors for the fair treatment of customers. This note also outlines provider responsibilities relevant to the UK authorised investment scheme managers. This note is in the process of being updated by the author, including amendments to reflect the new UK regulatory structure that comes into effect on 1 April 2013. | Practice notes | Maintained |
| 46 | SIF interviews at the FCA and PRA: a practical guide In this practice note, the Financial Regulation Group at Slaughter and May provides a practical guide to interviews for candidates applying to perform significant influence functions (SIFs) within authorised firms. | Practice notes | Maintained |
| 47 | Solvency II: the proposed PRA and FCA regime An overview of the proposed PRA and FCA regime for insurers and reinsurers falling within the scope of the Solvency II Directive (2009/138/EC) (also known as "Solvency 2"), which also outlines the key amendments the PRA and FCA are expected to make to their respective Handbooks to transpose Solvency II. | Practice notes | Maintained |
| 48 | The Liikanen report on banking An overview of the recommendations made by the EU high-level expert group on reforming the structure of the EU banking sector, chaired by Erkki Liikanen, and the responses of EU authorities to the group's recommendations. The group published its report (also known as the Liikanen report) in October 2012, making recommendations on reforms to the EU banking sector. These recommendations included mandatory separation of proprietary trading activities and other significant trading activities from deposit banks. | Practice notes | Maintained |
| 49 | Threshold conditions for FCA-authorised firms A note on the threshold conditions that FCA-authorised firms must satisfy in order to become and remain authorised under the Financial Services and Markets Act 2000 (FSMA). | Practice notes | Maintained |
| 50 | Threshold conditions for PRA-authorised firms A note on the threshold conditions that PRA-authorised firms must satisfy in order to become and remain authorised under the Financial Services and Markets Act 2000 (FSMA). | Practice notes | Maintained |
| 51 | Training and Competence sourcebook A note outlining the provisions of the FCA's Training and Competence sourcebook (TC), including the competent employees rule and qualification requirements. | Practice notes | Maintained |
| 52 | Training and competence: employee qualifications A consideration of the role of employee qualifications under the FCA's training and competence regime. | Practice notes | Maintained |
| 53 | Training and competence: requirements for authorised firms An overview of the FCA's training and competence regime, including high-level requirements and the competent employees rule. | Practice notes | Maintained |
| 54 | Transparency, disclosure and conflicts in the commercial ... An overview of the FSA's thematic work on transparency, disclosure and conflicts in the commercial insurance market, before it was replaced as a conduct regulator by the FCA on 1 April 2013. | Practice notes | 31-Mar-2013 |
| 55 | Unfair contract terms in financial services contracts An explanation of how unfair terms in financial services contracts are enforced in the UK under the Unfair Terms in Consumer Contracts Regulations 1999 (SI 1999/2083) (UTCCRs). The note considers the interaction between the FSA's treating customer fairly (TCF) principle and the UTCCRs, issues relating to the interpretation of the UTCCRs and the FSA's expectations of firms in this area. It also looks at common themes arising from undertakings provided by firms to the FSA to amend unfair terms. This note is in the process of being updated by the author, including amendments to reflect the new UK regulatory structure that comes into effect on 1 April 2013. | Practice notes | Maintained |
| 56 | Use of inherited estates in the with-profits sector: FSA work An overview of the FSA's work, from 2007 to 2012, on the use of inherited estates in the with-profits sector. | Practice notes | 07-Mar-2012 |