CP13/6 - CRD IV for Investment Firms - Financial Conduct Authority

FCA 2013/xx
Paragraph 22(2) of chapter CM of IPRU(BANK)
[deleted]
Paragraph 23 of chapter CM of
IPRU(BANK)
Explanation
21.3
21.4
G
BIPRU 7.4.22R(1)(b) says that a firm should treat positions in different
grades or brands of the same commodity-class as different commodities
unless they are close substitutes and have price movements which have
exhibited a stable correlation coefficient of at least 0.9 over the last 12
months. BIPRU 7.4.23R says that a firm should notify the FSA FCA in
writing at least 20 business days prior to the date the firm starts relying on
this treatment. The purpose of this section is to allow a notice given under
the corresponding provisions of chapter 10 of IPRU(INV) or IPRU(BANK)
to continue to have effect without the firm having to serve a new notice
under BIPRU 7.4.23R.
BIPRU TP 11, BIPRU TP 13, BIPRU TP 15, BIPRU TP16, BIPRU TP 22, BIPRU TP 33 and
BIPRU TP 34 are deleted in their entirety. The deleted text is not shown.
In the following table, the words in Column (2) in the provisions in Column (1) are replaced
by the word in Column (3), except where indicated in Column (4), unless the context
otherwise requires.
Column (1)
(Handbook
provisions to be
amended)
Column (2)
(current wording)
Column (3)
(new wording)
Column (4)
(Handbook
provisions not
amended)
BIPRU
appropriate
regulator
FCA BIPRU 12
(Liquidity
Standards)
Schedule 5G
Schedule 6G
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