Handbook Notice 79

Financial Services Authority 

Handbook Notice 79 

Board Meeting: 24 July 2008 

Notice published: 25 July 2008

Contents 

1 Overview 3 

2 Handbook changes made by the Board on 24 July 2008 6 

3 Changes outside the Handbook 15 

4 Feedback on responses to consultation 16 

Annex A List of instruments made or approved by the Board on 24 July 2008 

(and list of any instruments amended by addenda) 

Annex B 

Table of Handbook modules showing amending instruments: 

• Handbook modules 

• modules outside the Handbook 

Annex C 

Annex D 

Annex E 

Guidance Notes issued by the FSA 

Handbook provisions not yet in force 

What’s New? 

© The Financial Services Authority 2008

Handbook Notice 79 

This Handbook Notice introduces the Handbook and other material made by 

the Board under its legislative powers on 24 July 2008. It also contains information 

about other publications relating to the Handbook and, if appropriate, lists minor 

corrections made to previous instruments made by the Board. 

Contact names for the individual modules are listed in the relevant Consultation 

Papers and Policy Statements referred to in this Notice. 

General comments and queries on the Handbook can be addressed to: 

Nick Walker 

Tel: 020 7066 3176 

Email: nick.walker@fsa.gov.uk 

However, queries on specific requirements in the Handbook should be addressed 

first to your normal supervisory contact in the FSA. For most firms this will be 

the FSA’s Firm Contact Centre: 

Tel: 0845 606 9966 

Fax: 020 7066 0991 

Email: fcc@fsa.gov.uk 

Post: 

Firm Contact Centre 

Financial Services Authority 

25 The North Colonnade 

Canary Wharf 

London E14 5HS

1 Overview 

Legislative changes 

The Handbook 

1.1 On 24 July, the FSA made changes to the Handbook in six instruments which: 

• make minor administrative corrections to the Handbook, and revoke an 

instrument whose commencement remains undetermined, none of which 

represents any change in FSA policy (FSA 2008/33); 

• make new definitions for the Glossary relating to biofuels and biomass, in 

response to the Biofuel Directive (FSA 2008/34); 

• make new guidance in the Conduct of Business sourcebook on a new disclosure 

document for investment firms, replacing two old documents (FSA 2008/35); 

• amend the Conduct of Business sourcebook in order to create an explicit 

exception from ‘best execution’ for authorised fund managers when purchasing 

or selling units in regulated collective investment schemes which they operate 

(FSA 2008/36); 

• remove from the Handbook the ‘controlled function’ for individuals who have 

responsibility for EEA Investment Business Oversight and Compliance Oversight 

of non-MiFID business carried out by incoming EEA firms (including credit 

institutions) (FSA 2008/37); and 

• extend the scope of the Financial Services Compensation Scheme’s cover to longterm 

insurance contracts taken out by policyholders resident in the EEA and to 

general insurance contracts where the risk is situated in the EEA, in both cases 

where the business is written through EEA branches of UK insurers (FSA 2008/38). 

Addenda to Instruments 

1.2 No minor amendments by way of addenda have been made to the Handbook since 

publication of Handbook Notice 70a. 

Financial Services Authority 3

Directions 

1.3 No directions which affect the Handbook have been made since the last Handbook 

Notice was issued. 

Changes outside the Handbook 

1.4 There are no changes outside the Handbook this month. 

Description of changes 

1.5 The legislative changes referred to above are briefly described in Chapters 2 and 3 (if 

applicable) of this Notice. (Changes to the summary schedules at the end of a 

sourcebook or manual, for example reflecting the record-keeping or notification 

requirements in it, or specifying the powers exercised by the FSA in making the changes 

to it, are not included in those descriptions.) 

1.6 The FSA reserves the right to make correctional or clarificatory amendments to the 

instruments made at the Board meeting without further consultation should this prove 

necessary or desirable. 

Feedback on responses to consultations 

1.7 Chapters 2 and 3 contain brief references to the consultative stages of the new 

legislative material made by the Board this month. The material referred to in that 

chapter was consulted on in the following CPs: 

• Chapter 5 of CP08/1 Quarterly consultation (No 15) (January 2008); 

• CP08/3 Simplifying Disclosure: Information about services and costs 

(February 2008); 

• Chapters 4 and 6 of CP08/7 Quarterly consultation (No 16) (April 2008); 

• CP08/9 Financial Services Compensation Scheme: EEA branches of UK insurers 

(May 2008). 

1.8 Feedback on responses to the proposals referred to in CP08/1 and CP08/7 is set out 

in Chapter 4 of this Notice. Feedback on the other two consultations is being published 

separately. 

Annexes to this Notice 

1.9 This Handbook Notice contains: 

• a list (Annex A) of the formal instruments made by the Board this month which 

make changes to the Handbook; 

4 Handbook Notice 79

• tables (Annex B) identifying the instruments by which each module of the 

Handbook has been amended; 

• a table showing Guidance Notes issued by the FSA (Annex C); 

• a table (Annex D) which lists, as a reminder to firms, those Handbook provisions 

yet to come into force; and 

• What’s New? (Annex E), a brief description by module of the instruments made 

this month. 

Publication of Handbook material 

1.10 This Notice is published on the FSA website and is available in hardcopy. 

1.11 The formal legal instruments (which contain details of the changes) can be found on the 

FSA’s website listed by date and reference number at 

http://fsahandbook.info/FSA/InstrumentsByDate.jsp or listed by module at 

http://fsahandbook.info/FSA/InstrumentsByModule.jsp. The definitive version of the 

Handbook at any time is the version contained in the legal instruments. 

1.12 The changes to the Handbook are incorporated in the consolidated Handbook text on 

the website as soon as practicable after the legal instruments are published. 

1.13 The consolidated text of the Handbook can be found on the FSA’s website at 

http://fsahandbook.info/FSA/handbook.jsp. 

1.14 Copies of the FSA’s consultation papers referred to in this Notice are available on the 

FSA’s website or on request in hardcopy form. 

Obligation to publish feedback 

1.15 This Notice, and the feedback to which paragraph 1.8 refers, fulfil for the relevant text 

made by the Board the obligations in sections 155(5) and (6) and similar sections of the 

Financial Services and Markets Act 2000 (“the Act”). These obligations are: to publish 

an account of representations received in response to consultation and the FSA’s 

response to them; and to publish (where applicable) details of any significant 

differences between the provisions consulted on and the provisions made by the Board, 

with a cost benefit analysis. 

Comments 

1.16 We always welcome feedback on the way we present information in the Handbook 

Notice, including its Annexes. If you do have any comment, this should be sent to Nick 

Walker (see contact details at the front of this Notice). 


2 

Handbook changes 

made by the Board 

Introduction 

2.1 This chapter briefly describes Handbook changes made on 24 July 2008 by the 

Board. Where relevant it also refers to the development stages of that material, 

enabling readers to look back at developmental documents if they wish. 

GLOSSARY 

Handbook Administration (No 10) Instrument 2008 (FSA 2008/33) 

Changes to Glossary: 

Addition of definitions of “home finance 

administration” and “home financing” 

Change to definitions of “Combined Code”, 

“connected person”, “consumer”, “distance 

contract” and “investment research” 

Changes: 

Changes to SYSC 2.1.6G 

Changes to FEES 5 Annex 1R 

Changes to MIPRU 4.1.1R 

Changes to COBS 1 Annex 1 

Changes to COBS 3.2.2G 


Changes to COBS 5.1.-1R 

Changes to COBS 13 Annex 3 

Change to COBS 14.2.17R 

Change to COBS 18.5.2R 

Deletion of certain ICOBS TPs 

Change to COMP 14.1.6G 

Change to COMP 14.2.3G 

Changes to LR Appendix 1 


2.2 The Board has made minor administrative changes to various modules of the 

Handbook, as listed above. These correct or clarify existing provisions. They were not 

consulted on because they are regarded as falling within the policy scope of previous 

consultations. None of these changes represents any alteration in FSA policy. 

2.3 In summary the amendments made this month are as follows: 

• change to the definition of “Combined Code” and LR Appendix 1, following the 

introduction of a new version of the Combined Code on Corporate Governance; 

• amendments to the definition of “distance contract”, and COBS 5.1.-1R which 

are intended to clarify how the rules implementing the Distance Marketing 

Directive (2002/65/EC) apply to intermediaries both in the case where a supplier 

is authorised and where the supplier is unauthorised; this is consistent with our 

general policy position and is also consistent with the relevant HMT regulations; 

• a correction to FEES 5 Annex 1R to show the correct fee for industry block 2 

(insurers), in relation to the funding of the Financial Ombudsman Service, in 

order to correspond with the authorised fee set out in Policy Statment PS08/5; 

• a correction to the table in COBS 18.5.2R to reflect that COBS 5.1 applies to 

operators of collective investment schemes; 

• addition of new definitions for “home financing” and “home finance 

administration” to correct an anomaly in the definitions used in MIPRU; 

• a correction within the definition of “investment research”; 

• amendment to SYSC 2.1.6G to remove an out-of-date reference to ECO, and to 

amend the text following the deletion of the definition of “incoming electronic 

commerce activity”; 

• removal of some ‘in-text’ definitions in MIPRU that are no longer appropriate as 

the terms (“home financing” and “home finance administration”) are being more 

accurately defined in new Glossary terms made by this instrument; 

• a change to COBS 1 Annex 1 (which describes the application of this 

sourcebook) in order to correct the misleading statement that the territorial 

scope of COBS is modified so that it does not apply to EEA UCITS management 

companies other than in relation to financial promotion and the information 

gathering and suitability rules; this statement does not sufficiently take account 

of the effect of section 266 of the Act, the effect of which is to ‘delimit’ the 

respective regulatory roles of the ‘home’ and ‘host’ EEA State in relation to 

UCITS recognised under section 264; the relevant paragraph of this Annex (para 

9.2(2) of Part 3) has been amended accordingly; 

• minor clarificatory changes to COBS 3.2.2G and COBS 4.1.6G, guidance which 

relates to client classification and financial promotions. The revisions do not 

involve any change in policy, but should make it clearer to firms that corporate 

finance contacts (and venture capital contacts) need to be categorised as ‘clients’ 

when they are sent financial promotions. The new guidance should also make it 


clearer that communicating or approving a financial promotion that is, or is 

likely to be, communicated to a corporate finance contact (or venture capital 

contact) is not MiFID or equivalent third country business. And that, in such 

circumstances, the “non-MiFID” client categorisations will be relevant so for 

example, in categorising “elective professional clients”, the “quantitative test” 

will not need to be satisfied. We are also amending the COBS FAQs that deal 

with this topic – the link to the ‘Communicating with clients, including financial 

promotions’ FAQs is: http://www.fsa.gov.uk/pages/Doing/Regulated/newcob/ 

faqs/comms2.shtml. As a result of these revisions, we expect firms and their advisers 

will understand better when the Financial Promotion Order exemptions are 

available to firms communicating with corporate finance or venture capital contacts; 

• an amendment to COBS 13 Annex 3 2.2R which corrects a drafting error which 

inadvertently inverted the calculation, leading to inaccurate figures. The new 

drafting is consistent with our policy intention and the position under COB 

before November 2007; 

• an amendment to COBS 14.2.17R which corrects erroneous cross-references to 

the distant marketing requirements; 

• the removal of expired transitional provisions in ICOBS; 

• addition of “and/” to COMP 14.1.6G and “/or” to COMP 14.2.3G in order to 

be consistent with the Deposit Guarantee Schemes Directive; and 

• correction of cross-references in the definitions of “connected person” and 

“consumer”, and in DISP Sch 4.2. 

2.4 This instrument also revokes the Collective Investment Schemes Sourcebook 

(Electronic Communications) Instrument 2008 (FSA 2008/27) which was made by 

the Board on 22 May 2008. That instrument was intended to come into force on 6 

June 2008 subject to various legislative changes having been made by the 

government. These legislative changes (referred to on the front page of the 

instrument) have not yet been made. So, to avoid confusion to firms and other 

stakeholders we have decided to revoke this instrument. The decision to revoke does 

not represent any change in FSA policy. We intend to re-make the instrument in the 

same form once the underlying legislative changes have been made. 

2.5 The amendments originally made by that instrument, and which are now being 

revoked are to the following provisions: 

Definition of “electronic communication” (definition revoked) 

COLL 4.2.5R 

COLL 4.4.13R 

COLL 8.3.4R 

2.6 Apart from the change to the definition of “connected person” (which comes into 

force on 25 July 2008) and the changes to the definition of “distance contract” and 

to COBS 5.1.-1R and 18.5.2R (which come into force on 6 September 2008), these 

changes come into force on 6 August 2008. 


Glossary Amendment (Biofuels and Biomass) Instrument 2008 (FSA 2008/34) 


Addition of new definitions of “biofuel”, “biofuel 

collective investment scheme”, “biofuel 

investment”, “biomass”, “biomass investment” 

and “biomass collective investment scheme” 

Changes to definitions of “energy”, “energy market 

activity” and “oil market activity” 

2.7 Following consultation in Chapter 6 of CP08/7 1 the Board has made the changes 

listed above to the Glossary. 

2.8 These changes, which come into force on 6 August 2008, include certain biofuel and 

biomass activities within the definition of “oil market activity” and within the 

definitions of “energy” and “energy market activity”. The amendments are in 

response to the requirements placed on fuel suppliers by the Biofuel Directive, as 

implemented in the UK by the Renewable Transport Fuel Obligation Programme. 

2.9 Feedback on this consultation is contained in Chapter 4 of this Notice. 

Disclosure Documents (Amendment) Instrument 2008 (FSA 2008/35) 

2.10 For the changes made to the Glossary by this instrument, see paragraphs 2.18 to 2.22 

of this Notice. 

Supervision Manual (Controlled Functions) (Amendment) Instrument 2008 

(FSA 2008/37) 

2.11 For the changes made to the Glossary by this instrument, see paragraphs 2.28 to 2.29 


HIGH LEVEL STANDARDS 

Senior Management Arrangements, Systems and Controls (SYSC) 


2.12 The changes made to SYSC by this instrument are described in paragraphs 2.2 to 2.5 


1 CP08/7 Quarterly consultation (No 16) (April 2008) 



(FSA 2008/37) 

2.13 For the changes made to SYSC by this instrument, see paragraphs 2.29 to 2.30 of 

this Notice. 

General Provisions (GEN) 


2.14 For the changes made to GEN by this instrument, see paragraphs 2.18 to 2.22 of 


Fees manual (FEES) 

Handbook Administration (No 10) Instrument (FSA 2008/33) 

2.15 For the changes made to FEES by this instrument, see paragraphs 2.2 to 2.5 of 


PRUDENTIAL STANDARDS 

Prudential sourcebook for Mortgage and Home Finance Firms, and 

Insurance Intermediaries (MIPRU) 


2.16 For the changes made to MIPRU by this instrument, see paragraphs 2.2 to 2.5 of 


BUSINESS STANDARDS 

Conduct of Business sourcebook (COBS) 


2.17 For the changes made to COBS by this instrument, see paragraphs 2.2 to 2.5 of 




Addition of new definition of “services and costs 

disclosure document” 

Changes to definition of “initial disclosure document” 

Deletion of definition of “menu” 


Changes: 

Changes to GEN 5 Annex 1G 

Addition of COBS 2.2.-1R 

Changes to COBS 2.2.1R 


Changes to COBS 6.3.2R, 6.3.3G, 6.3.4R, 6.3.5G, 

6.3.6G, 6.3.7G, 6.3.8G and 6.3.9G 

Deletion of COBS 6.3.10G, 6.3.11R, 6.3.12G and 

6.3.13G 


Deletion of COBS 6.3.15G and 6.3.16G 


Deletion of COBS 6.3.18G 

Changes to COBS 6.3.19G and 6.3.20G 

Replacement of COBS 6 Annex 1G and 6 Annex 2 

Deletion of COBS 6 Annex 3G, 6 Annex 4G and 

6 Annex 5G 


Deletion of COBS 7.2.2AR 

Addition of COBS 7.2.2BG 

Changes to COBS 9.6.6G and 9.6.7R 

Changes to COBS TP 2 

Changes to MCOB TP 1.1 

2.18 Following consultation in CP08/3 2 , the Board has made amendments to the 

Handbook which introduce a new disclosure document (‘services and costs disclosure 

document’) into guidance that investment firms may use to explain their services and 

costs to consumers. Changes have also been made to the combined initial disclosure 

document in order to have consistency between the investment sections of this 

document and the new services and costs disclosure document. 

2.19 The services and costs disclosure document aims to be simpler and more flexible for 

firms and to present information to consumers in a clear and simple way. It brings 

together into one document the key information about the service offered and the cost. 

2.20 As the services and costs disclosure document is guidance rather than rules, firms are 

free to develop their own disclosure material to comply with COBS if they want to. 

2.21 The new guidance and associated changes to the Handbook will take effect on 

6 August 2008. Transitional arrangements will allow firms to continue using the 

IDD, menu, and the current versions of the CIDD until 31 August 2009. This should 

allow firms to exhaust their existing stock of documents and will also give them time 

to consider which disclosure option best suits their business model. 

2.22 Feedback on CP08/3 is being published in a separate Policy Statement. 

2 CP08/3 Simplifying Disclosure: Information about services and costs (February 2008) 


Conduct of Business Sourcebook (Amendment) Instrument 2008 

(FSA 2008/36) 

Changes: 

Addition of COBS 11.1.7R 

2.23 Following consultation in Chapter 4 of CP08/7 3 , the Board has made a change to 

COBS in order to provide clarity for authorised fund managers in relation to their 

best execution obligations. 

2.24 This instrument creates an explicit exception from ‘best execution’ for authorised 

fund managers when purchasing or selling units in regulated collective investment 

schemes which they operate. 

2.25 This instrument comes into force on 1 November 2008. Feedback on this 

consultation is set out in Chapter 4 of this Notice. 

Insurance: Conduct of Business sourcebook (ICOBS) 


2.26 For the changes made to ICOBS by this instrument, see paragraphs 2.2 to 2.5 of 


Mortgages and Home Finance: Conduct of Business sourcebook (MCOB) 


2.27 For the changes made to MCOB by this instrument, see paragraphs 2.18 to 2.22 of 


REGULATORY PROCESSES 

Supervision manual (SUP) 


(FSA 2008/37) 


Changes: 

Deletion of definition of “EEA investment business 

oversight function” 

Changes to SYSC 2.1.6G 

Changes to SUP 10.1.13R 

Deletion of SUP 10.1.13AR, 10.1.13BG and 10.1.13CG 



Deletion of SUP 10.7.6R and 10.7.7G 

Changes to SUP 10.9.1R and 10.9.3G 

3 CP08/7 Quarterly consultation (No 16) (April 2008) 


2.28 Following consultation in Chapter 5 of CP08/1 4 the Board has removed from the 

Handbook two ‘controlled functions’ which the FSA believe are no longer 

appropriate. These controlled functions relate to individuals who have responsibility 

for EEA Investment Business Oversight and Compliance Oversight of non-MiFID 

business carried out by incoming EEA firms (including credit institutions). 

2.29 The changes come into force on 6 August 2008. Feedback on this consultation is set 

out at Chapter 4 of this Notice. 

REDRESS 

Dispute Resolution: Complaints sourcebook (DISP) 


2.30 For the changes made to DISP by this instrument, see paragraphs 2.2 to 2.5 of 


Compensation sourcebook (COMP) 


2.31 For the changes made to COMP by this instrument, see paragraphs 2.2 to 2.5 of 


Compensation Sourcebook (Protected Contracts of Insurance) (Scope 

Amendment No 3) Instrument 2008 (FSA 2008/38) 

Changes: 

Changes to COMP 5.4.3R 

2.32 Following consultation in CP08/9 5 the Board has amended COMP to extend 

coverage of the Financial Services Compensation Scheme (FSCS) so that EEA risks 

written under long-term or general insurance policies issued through EEA branches 

of UK insurers are treated, as regards eligibility for FSCS, in the same way as UK 

risks written under such policies. Accordingly, all EEA risks written under these 

policies will fall within the scope of the FSCS, provided that the other conditions for 

protection are met. 

2.33 The changes come into force on 25 July 2008 and apply in the case of insurers 

declared in default on or after 25 July in respect of policies issued on or after 

1 December 2001 (‘N2’) when the FSCS was set up. 

2.34 Feedback on this consultation is being published in a separate Policy Statement. 

4 CP08/1 Quarterly consultation (No 15) (January 2008) 

5 CP08/9 Financial Services Compensation Scheme: EEA branches of UK insurers (May 2008) 


SPECIALIST SOURCEBOOKS 

2.35 There are no changes to this part of the Handbook. 

LISTING, PROSPECTUS AND DISCLOSURE 

Listing Rules sourcebook (LR) 


2.36 For the changes made to LR by this instrument, see paragraphs 2.2 to 2.5 of 



Changes outside 

3 the Handbook 

3.1 There are no changes to material outside the Handbook this month. 


Feedback on responses 

4 to consultation 

4.1 This chapter contains feedback on responses to the following consultation: 

• Chapter 5 of CP08/1 Quarterly consultation (No 15) (January 2008); 

• Chapters 4 and 6 of CP08/7 Quarterly consultation (No 16) (April 2008). 

Chapter 5 of CP08/1: Quarterly consultation (No 15) 

Supervision Manual (Controlled Functions Amendment) Instrument 2008 

(FSA2008/37) 

Glossary of definitions 

Senior Management Arrangements, Systems and Controls 

sourcebook (SYSC) 

Supervision manual (SUP) 

4.4 In Chapter 5 of CP08/1 we proposed to remove controlled function CF9 (EEA 

Investment Business Oversight) and CF10 (Compliance Oversight) for individuals 

who have responsibility for non-MiFID business carried out by incoming EEA firms 

(including credit institutions). This proposal is relevant to those UK branches of EEA 

firms which carry on designated investment business through a top-up permission, or 

life insurance mediation using a passport under the Insurance Mediation Directive. 

We will still continue to supervise individuals within these firms through the 

remaining controlled functions that continue to apply, including the significant 

management function (where applicable) (CF29) and the customer function (CF30). 

4.5 We received no responses to our proposals and the Board has therefore made the 

changes as consulted on, without amendment. In the coming month we will 

automatically withdraw CF9 and CF10 from the register for incoming EEA firms, 

and amend Form A – Incoming EEA only to reflect this change. 

4.6 The cost-benefit analysis and compatibility statement set out in CP08/1 remain 

unchanged. The instrument now made by the Board is described at paragraphs 2.28 

to 2.29 of this Notice. 



Conduct of Business Sourcebook (Amendment) Instrument 2008 (FSA 

2008/36) 

Conduct of Business sourcebook (COBS) 

4.7 In CP08/7 we set out our proposals to apply the MiFID best execution requirements 

to the purchase or sale of units in a regulated collective investment scheme (CIS) 

directly from or to the authorised fund manager (AFM) operating that scheme. 

4.8 Before MiFID such transactions benefited from an exception 6 to the requirement to 

provide clients with best execution. Two sets of firms benefited from this exception: 

intermediary firms who passed on client orders to AFMs or executed client orders 

with AFMs, and also AFMs operating regulated schemes when dealing with 

intermediaries or directly with clients. This exception largely reflected the historical 

structure of this market where AFMs were the only venue from which to purchase or 

sell units in CIS. Today there are many fund supermarkets, and wrap platforms 

intermediaries can transmit orders in these products also. 

4.9 MiFID abolished the exception for those intermediary firms within its scope. In 

CP07/9 we proposed to extend the MiFID-derived best execution requirements to 

non-MiFID scope firms and business thereby removing the exception entirely. 

4.10 In practical terms this would require non-MiFID intermediaries (principally financial 

advisers), when deciding where to transmit their client orders for units in a regulated 

CIS, to consider whether passing an order to an AFM rather than a fund 

supermarket or wrap platform would enable them to achieve the best possible result 

for their clients. In CP08/7 we stated that since price is not a variable in these 

circumstances, a financial adviser must consider the entities it includes in its policy 

based on the relative assessment of the costs of passing the order to the different 

entities mentioned above. 

4.11 AFMs would be affected in that they would also have to consider whether or not 

they fall within the scope of the best execution requirements and determine their 

approach to compliance. Such an analysis would enable an AFM to conclude that it 

was not ‘acting on behalf of a client’ and therefore not subject to best execution. We 

stated in CP08/7 that creating a specific exception for AFMs, and not leaving AFMs 

to determine the applicability of the requirements to their business arrangements, 

would provide greater clarity. However this would run against the general facts and 

circumstances analysis based approach to determining best execution. 

Responses to consultation 

4.12 We received 21 responses to the consultation. Respondents included financial 

advisers, authorised fund managers and their trade associations. 

6 COB 7.5.4R(1)(b) 


Issues raised in consultation 

Q5: Do you agree that best execution should apply to financial 

advisers and other non-MiFID firms where they receive and 

transmit orders for the purchase or sale of units in 

regulated CIS on behalf of their clients? 

4.13 Respondents broadly supported the policy proposals relating to financial advisers 

and other non-MiFID intermediary firms. They considered it reasonable to apply a 

consistent standard for best execution requirements for similar business. However, 

some respondents requested clarification regarding the impact of the requirements on 

intermediary firms managing ISAs who are also the AFM operating the scheme. 

4.14 Respondents requested clarification on the requirements on intermediaries in respect 

of the use of fund supermarkets and other wrap platforms. A trade association set 

out the practical difficulties financial advisers would face in having to consider using 

platforms on each occasion, as opposed to continuing to route orders for units in CIS 

directly to AFMs. 

Our response 

Clarification on AFMs as ISA managers 

4.15 From a regulatory perspective we consider circumstances where an AFM is also an 

ISA manager to be no different from where the investor deals directly with the AFM, 

where best execution does not apply. 

Clarification on the use of fund supermarkets and wrap platforms 

4.16 In CP08/7 we explained how intermediary firms such as financial advisers, in order 

to provide best execution to clients, will need to assess the relative merits of 

transmitting orders to AFMs, fund supermarkets and other wrap platforms. 

4.17 This remains the case where suitability considerations lead a firm to recommend that 

the client purchase or sell units in a CIS, with no considerations or recommendation 

being made regarding the suitability to the client of the nature of the services offered 

by those various entities at which the units are available. 

4.18 We understand that, although the units may be available at different types of entities, 

these entities operate different business models offering a variety of different services 

that afford varying benefits to investors which may be relevant considerations in 

suitability assessments. Our view is that where the particular features of entities are 

relevant considerations to the best interests of the client, these features should inform 

the recommendation made to the client, and the order routed accordingly. 

4.19 Finally, we would clarify that best execution is not to be considered on an order by 

order basis. Best execution is a process driven requirement, whereby the execution 

arrangements of the firm should be set up to deliver the best possible result for the 


clients on a consistent and ongoing basis. Firms are not required to ensure they 

achieve best execution on each and every transaction. 

Q6: Do you think it is necessary to provide a specific exception 

from best execution for AFMs and operators of schemes? 

4.20 Respondents on the whole requested a specific explicit exception. The common 

theme running through most responses was that although there was agreement with 

the FSA’s interpretation that on an analysis of the relationships under current 

business models AFMs do not act on behalf of clients and are therefore not within 

the scope of the requirements, to leave this analysis to firms does not address an 

identifiable market failure or meet any other policy objectives. This unnecessary 

uncertainty would result in unnecessary costs to these firms. Respondents requested 

that the FSA provide much needed certainty in this area by creating a rule to give 

effect to AFMs’ exception from the application of best execution. 

4.21 Respondents also requested clarification on the implications for third party 

administrators (TPAs) where the AFM has outsourced to that firm the function of 

purchasing and selling units in the scheme for which it is the operator. We consider 

that such circumstances should not receive different regulatory treatment to those 

where the AFM does not outsource that function. 

Our response 

Explicit exception for AFMs 

4.22 We have opted to provide an explicit exception from the application of best 

execution for AFMs when purchasing or selling units in a regulated CIS for which 

they are the operator. 

Third party administrators 

4.23 It is an established principle that firms may outsource regulated activities but not the 

regulatory requirements and obligations that flow from those activities. We therefore 

consider that third party administrators, when carrying out duties on behalf of 

AFMs, should not receive different regulatory treatment than an AFM who does not 

outsource that function. 

Cost Benefit Analysis 

4.24 In CP08/7 we stated that the costs of removing the exception for intermediary firms 

would be limited. Since we are standing by our proposals in this respect the CBA 

remains unchanged. 

4.25 As we have opted to provide an explicit exception for AFMs, thereby providing 

further certainty in this area, costs that would have arisen from firms having to 

determine the application of the provisions to their particular business arrangements, 

will now not be incurred. 


4.26 In view of the policy approach no further CBA is required. The compatibility 

statement remains as published in CP08/7. 

4.27 The change made by this instrument are listed at paragraphs 2.23 to 2.25 of 



Glossary Amendment (Biofuels and Biomass) Instrument 2008 (FSA 2008/34) 

Glossary of definitions 

4.28 In Chapter 6 of CP08/7 we consulted on changes to the Glossary to allow authorised 

firms classed as oil market participants and energy market participants to deal in 

biofuel or biomass derivative instruments (where such activity is ancillary to their oil 

and energy activities), without breaching the terms of their FSA permissions. These 

amendments were in response to the requirements placed on fuel suppliers by the 

Biofuel Directive. 

4.29 Due to thorough pre-consultation with external stakeholders, there were no concerns 

raised or changes proposed as a result of the formal consultation conducted in the 

April QCP. We did receive comments from two firms to say that they welcomed and 

fully supported our proposals. The instrument has therefore been made as consulted 

on, subject to one minor drafting correction. The cost benefit analysis and 

compatibility statement remain as published in CP08/7. The changes made by this 

instrument are listed and described at paragraphs 2.7 to 2.9 of this Notice. 


Annex A 

List of new instruments and addenda 

(See also descriptions within Annex E) 

Title of instrument 

Handbook Administration (No 10) Instrument 2008 - 

Glossary Amendment (Biofuels and Biomass) 

Instrument 2008 

Disclosure Documents (Amendment) Instrument 

2008 

Conduct of Business Sourcebook (Amendment) 


Supervision Manual (Controlled Functions) 

(Amendment) Instrument 2008 

Compensation Sourcebook (Protected Contracts of 

Insurance) (Scope Amendment No 3) Instrument 

2008 

CP 

08/7 

(Ch 6) 

08/3 

08/7 

(Ch 4) 

08/1 

(Ch 5) 

Modules 

affected 

Glossary, SYSC, 

FEES, MIPRU, 

COBS, ICOBS, 

DISP, COMP, 

COLL, LR 

No. of 

instrument 

FSA 2008/33 

Changes 

effective 

25.7.08, 

6.8.08 and 

6.9.08 

Glossary FSA 2008/34 6.8.08 

Glossary, GEN, 

COBS, MCOB 

FSA 2008/35 6.8.08 

COBS FSA 2008/36 1.11.08 

Glossary, SYSC, 

SUP 

FSA 2008/37 6.8.08 

08/9 COMP FSA 2008/38 25.7.08 

Column 2 (“CP”) shows the number of the corresponding consultation paper, where relevant. 

Where the acronym of a module in Column 3 appears in bold, that module is the main one affected by the 

instrument shown and changes made by that instrument are described in Chapter 2 or 3 under that module 

heading. 

Annex A 21

Addenda 

There are no amendments by addenda this month. 

Number of 

instrument 


Date 

addendum in 

force 

Modules affected 

- - - - 

Errata 

There are no amendments by errata this month. 

Number of 

instrument 


Date 

erratum in 

force 

Modules affected 

- - - - 


Annex B 

Table of Handbook modules showing amending instruments 

1. The first of the tables in this Annex lists the modules which make up the Handbook and the instruments by 

which they were made or amended, together with the date (in italics) on which each module was first 

commenced (in whole or in part), the date of each instrument which amended it and the number of the 

Handbook Notice which described the making or amendment. The subsequent tables list instruments making 

material which lies outside the Handbook. 

2. For detailed information on dates in force, see the legal instruments by which the text was made or amended. 

The date on which each paragraph of the Handbook (or, where relevant, its latest amendment) came into 

force appears in the consolidated text of the Handbook in the margin of the text beneath the status letter for 

the paragraph. 

3. An asterisk * in this table beside the reference code for a module (or the heading of a table, for provisions 

outside the Handbook) shows that the Board made a change at its last meeting. 

4. The three columns on the right-hand side of this table show the FSA instrument number, the date the 

instrument was made and the number of the Handbook Notice (“HN”) in which details of the instrument were 

first published. 

5. We have removed from the tables in this Annex reference to all instruments made before 1 January 2005. This 

is to save space. The cumulative record of instruments made before 1 January 2005 can be found in HN56, 

which continues to be available on our website. 

Annex B 23

Handbook instruments 

Ref Code Sourcebook or manual 

Name of Instrument 

No of Inst 

Date of Inst 

HN 

*GLOSSARY 

First brought into force - 21.6.01 - 

Treating With-Profits Policyholders Fairly Instrument 2005 2005/4 20.1.05 40 

With-Profits Governance (Amendment No 2) Instrument 2005 2005/5 20.1.05 40 

Conduct of Business Sourcebook (Reattribution of Inherited Estates) Instrument 2005 2005/6 20.1.05 40 

Handbook Administration Instrument 2005 2005/9 17.2.05 41 

Training and Competence Sourcebook (Money Market Instrument Activity) Instrument 2005 2005/10 17.2.05 41 

Market Abuse Directive Instrument 2005 2005/15 17.3.05 42 

Market Abuse Directive (Disclosure Rules) Instrument 2005 2005/16 17.3.05 42 

Consolidated Supervision (Miscellaneous Amendments) Instrument 2005 2005/20 21.4.05 43 

Changing Accounting Framework (Prudential Capital) Instrument 2005 2005/21 21.4.05 43 

Pensions and Consequential Amendments Instrument 2005 2005/22 21.4.05 43 

Simplified Prospectus Instrument 2005 2005/23 21.4.05 43 

Compensation Sourcebook (Amendment No 6) Instrument 2005 2005/24 21.4.05 43 

Third Party Processors Instrument 2005 2005/25 19.5.05 44 

Perimeter Guidance (Handbook Amendment) Instrument 2005 2005/32 16.6.05 45 

Listing Rules and Prospectus Rules (Consequential Amendments) Instrument 2005 2005/37 16.6.05 45 

Conduct of Business Sourcebook (Use of Dealing Commission) Instrument 2005 2005/40 21.7.05 46 

Designated Investment Exchange Instrument 2005 2005/44 21.7.05 46 

Simplified Prospectus (Amendment) Instrument 2005 2005/46 15.9.05 47 

Perimeter Guidance (Handbook Amendment No 2) Instrument 2005 2005/49 15.9.05 47 

Appointed Representatives (Networks) Instrument 2005 2005/53 19.10.05 48 

Enforcement (Settlement and Other Procedures) Instrument 2005 2005/54 19.10.05 48 

Civil Partnerships Instrument 2005 2005/56 17.11.05 49 

Integrated Prudential Sourcebook (Insurers and Other Amendments) (No 2) Instrument 2005 2005/58 17.11.05 49 

Pensions Tax Simplification Instrument 2005 2005/62 17.11.05 49 

Credit Unions Sourcebook (Common Ground Provisions) Instrument 2005 2005/67 17.11.05 49 

Fees Manual Instrument 2005 2005/69 15.12.05 50 

Passporting Instrument 2005 2005/70 15.12.05 50 

Lloyd’s Sourcebook (Amendment No 3) Instrument 2005 2005/72 15.12.05 50 

Handbook Administration (No 2) Instrument 2005 2005/73 15.12.05 50 

Money Laundering Provisions Instrument 2006 2006/1 26.1.06 51 

Pension Term Assurance Instrument 2006 2006/3 23.2.06 52 

Insurance: Conduct of Business Sourcebook (Amendment No 2) Instrument 2006 2006/4 23.2.06 52 

Collective Investment Schemes Sourcebooks (Miscellaneous Amendments) Instrument 2006 2006/5 23.2.06 52 

Market Conduct Sourcebook (Amendment No 7) Instrument 2006 2006/9 23.3.06 53 

Annual Questionnaire for Authorised Professional Firms Instrument 2006 2006/18 25.5.06 55 


Inter-Professional Investments (Exchange Traded Funds) Instrument 2006 2006/22 27.7.06 57 

New Collective Investment Schemes Sourcebook (Accounting Reference Periods and Other 

2006/24 27.7.06 57 

Amendments) Instrument 2006 

Personal Pension Schemes Instrument 2006 2006/28 28.9.06 58 

New Collective Investment Schemes Sourcebook (Dual Pricing) Instrument 2006 2006/34 28.9.06 58 

Home Reversion and Home Purchase Activities (Consequential Amendments to the Handbook) 2006/37 25.10.06 59 


Listing Rules Amendment Instrument 2006 2006/38 25.10.06 59 

Reinsurance Directive (Consequential Amendments) Instrument 2006 2006/39 25.10.06 59 

Prudential Sourcebook for Mortgage and Home Finance Firms, and Insurance Intermediaries 

2006/43 25.10.06 59 


Prudential Sourcebook for UCITS Firms (and Consequential Amendments) Instrument 2006 2006/44 25.10.06 59 

Integrated Regulatory Reporting (Credit Institutions and Investment Firms) Instrument 2006 2006/46 25.10.06 59 

New Collective Investment Schemes Sourcebook (OTC Derivative Requirements and Other 

2006/47 25.10.06 59 

Miscellaneous Amendments) Instrument 2006 

Senior Management Arrangements, Systems and Controls (Markets in Financial Instruments and 2006/50 23.11.06 60 




No of Inst 

Date of Inst 

HN 

Capital Requirements Directives) Instrument 2006 

CRD (Consequential Amendments) Instrument 2006 2006/53 23.11.06 60 

Limited Liability Partnerships Instrument 2006 2006/55 23.11.06 60 

Conduct of Business Sourcebook (Disclosure Requirements for Third Party Processors) Instrument 2006/57 23.11.06 60 

2006 

Complaints Sourcebook and Fees Manual (Financial Ombudsman Service Consumer Credit Jurisdiction FOS 9.11.06 60 

and Voluntary Jurisdiction) Instrument 2006 (instrument made by FOS) 

2006/3 

Complaints Sourcebook (Consumer Credit Rules) Instrument 2006 2006/61 23.11.06 60 

Prudential Requirements for Insurers (Amendment) Instrument 2006 2006/62 15.12.06 61 


Integrated Regulatory Reporting (Credit Institutions and Investment Firms) (No 2) Instrument 2006 2006/67 21.12.06 61 

Compensation Sourcebook (Contribution for Mesothelioma Claims) Instrument 2006 2006/69 21.12.06 61 

Transparency Obligations Directive (Disclosure and Transparency Rules) Instrument 2006/70 21.12.06 61 

Glossary (MiFID) Instrument 2007 2007/1 25.1.07 62 

Approved Persons Regime (Simplification and MiFID) Instrument 2007 2007/6 25.1.07 62 

Passporting (MiFID) Instrument 2007 2007/8 25.1.07 62 

Takeover Bids Directive (Consequential Amendments) Instrument 2007 2007/11 25.1.07 62 

Approved Persons Regime (Merging the Customer Functions) Instrument 2007 2007/14 22.2.07 63 

New Collective Investment Schemes Sourcebook (Amendment) Instrument 2007 2007/15 22.2.07 63 

Glossary Amendment (Definition of Income Property) Instrument 2007 2007/16 22.3.07 64 

Fees Provisions (2007/2008) Instrument 2007 2007/17 22.3.07 64 


Pure Protection Contract Definition (Removal of Age Limit) Instrument 2007 2007/24 26.4.07 65 

Fifth Motor Insurance Directive Instrument 2007 2007/29 24.5.07 66 

Glossary (Conduct of Business and Other Sourcebooks) Instrument 2007 2007/32 24.5.07 66 


Integrated Regulatory Reporting Implementation (Amendment) Instrument 2007 2007/37 28.6.07 67 

Dispute Resolution: Complaints (Simplification and MiFID) Instrument 2007 (made jointly with FOS 2007/38 28.6.07 67 

as FOS 2007/2) 

Listing Rules (Investment Entities Interim Regime) (Amendment) Instrument 2007 2007/39 28.6.07 67 

Listing, Prospectus and Disclosure Rules (Miscellaneous Amendments) Instrument 2007 2007/40 28.6.07 67 

Markets (MiFID) (Consequential Amendments) Instrument 2007 2007/42 26.7.07 68 

Training and Competence Sourcebook (Amendment No 7) Instrument 2007 2007/43 26.7.07 68 

Conduct of Business Sourcebook (MiFID, Article 4 and Other Amendments) Instrument 2007 2007/44 26.7.07 68 

Decision Procedure and Penalties Manual (Consequential Amendments) Instrument 2007 2007/47 26.7.07 68 

Permitted Links (Amendment) Instrument 2007 2007/53 27.9.07 69 


MiFID (Deferred Matters and Consequential Amendments) Instrument 2007 2007/58 25.10.07 70a 

Fees Manual (FSCS Funding) Instrument 2007 2007/60 31.10.07 70b 

Prudential Requirements for Insurers (Amendment No 2) Instrument 2007 2007/64 6.12.07 71 

MiFID (Deferred Matters and Consequential Amendments) (No 3) Instrument 2007 2007/66 6.12.07 71 

Integrated Regulatory Reporting (Amendment No 3) Instrument 2007 2007/70 6.12.07 71 

Collective Investment Schemes Sourcebook (Amendment No 3) Instrument 2007 2007/71 6.12.07 71 

Recognised Investment Exchanges and Recognised Clearing Houses (Notification Obligations) 2007/72 6.12.07 71 


Listing Rules (Investment Entities Single Regime) (Amendment) Instrument 2007 2007/73 6.12.07 71 

Insurance: New Conduct of Business Sourcebook (Consequential Amendments) Instrument 2007 2007/68 17.12.07 71a 


Collective Investment Schemes Sourcebook (UCITS Eligible Assets Directive and Other Amendments) 2008/5 28.2.08 73 


Regulated Covered Bonds Sourcebook Instrument 2008 2008/7 6.3.08 74 

Regulated Covered Bonds (Related Amendments) Instrument 2008 2008/8 6.3.08 74 

General Prudential Sourcebook (Adequacy of Financial Resources) (Amendment) Instrument 2008 2008/12 27.3.08 75 

Permitted Links (Amendment No 2) Instrument 2008 2008/16 27.3.08 75 

Integrated Regulatory Reporting (Removal of Annual Financial Returns and Reconciliations) 

2008/17 27.3.08 75 


Dispute Resolution: Complaints (Simplification (No 2) and other Amendments) Instrument 

Annex B 25



No of Inst 

Date of Inst 

HN 

2008 (made jointly with FOS as FOS 2008/3) 2008/18 27.3.08 75 


Companies Act 2006 (Consequential Handbook Amendments) Instrument 2008 2008/22 22.5.08 77 

Connected Travel Insurance Instrument 2008 2008/24 22.5.08 77 


Collective Investment Schemes Sourcebook (Electronic Communications) Instrument 2008 2008/27 22.5.08 77 

Collective Investment Schemes Sourcebook (Property Authorised Investment Funds) Instrument 2008/28 22.5.08 77 

2008 

Short Selling Instrument 2008 2008/30 12.6.08 78 

Disclosure Rules and Transparency Rules Sourcebook (Corporate Governance Rules) Instrument 2008 2008/32 26.6.08 78 

Handbook Administration (No 10) Instrument 2008 2008/33 24.7.08 79 

Glossary Amendment (Biofuels and Biomass) Instrument 2008 2008/34 24.7.08 79 

Disclosure Documents (Amendment) Instrument 2008 2008/35 24.7.08 79 

Supervision Manual (Controlled Functions) (Amendment) Instrument 2008 2008/37 24.7.08 79 

HIGH LEVEL STANDARDS 

PRIN 

The Principles for Businesses 






MiFID (Miscellaneous Amendments) Instrument 2007 2007/9 25.1.07 62 



*SYSC 

Senior Management Arrangements, Systems and Controls 










Client Assets Sourcebook (MiFID Business) Instrument 2007 2007/4 25.1.07 62 




Record Keeping, Interprofessional Business and Simplified Prospectuses Instrument 2007 2007/34 24.5.07 66 




Conduct of Business Sourcebook (Recording of Telephone Conversations and Electronic 

2008/6 28.2.08 73 

Communications) Instrument 2008 



COND 

Threshold Conditions 







No of Inst 

Date of Inst 

HN 









APER 

Statements of Principle and Code of Practice for Approved Persons 



Supervision Manual (Actuaries) (Amendment) Instrument 2005 2005/48 15.9.05 47 





FIT 

The Fit and Proper test for Approved Persons 





*GEN 

General Provisions 


General Provisions (Fees for Designated Investment Exchanges) Instrument 2005 2005/2 20.1.05 40 








Keyfacts Logo Instrument 2006 2006/25 28.9.06 58 




2006 








Regulatory Reform (Financial Services and Markets Act 2000) Order 2007 (Consequential Handbook 2008/2 24.1.08 72 


Companies Act 2006 (Transitional Provisions) Instrument 2008 2008/9 27.3.08 75 



*FEES 

Fees 


Annex B 27



No of Inst 

Date of Inst 

HN 


Fees Manual (Financial Ombudsman Service Fees) Instrument 2005 (instrument made by FOS) 

FOS 

2005/3 15.12.05 50 

Fees Manual (Financial Ombudsman Service Case Fees 2006/07) Instrument 2006 (instrument made FOS 2.3.06 53 

by FOS) 

2006/1 

Fees Provisions Instrument 2006 2006/8 23.3.06 53 

Fees Provisions (Amendment) Instrument 2006 2006/11 27.4.06 54 

Periodic Fees (2006/2007) Instrument 2006 2006/15 25.5.06 55 

Fees Manual (Financial Ombudsman Service Case Fees 2006/07) (No 2) Instrument 2006 (instrument 

made by FOS) 

FOS 

2006/2 8.6.06 56 


Fees Provisions (Remission of Fees Limitation) Instrument 2006 2006/26 28.9.06 58 







2006/3 




Fees Manual (Financial Ombudsman Service Case Fees 2007/08) Instrument 2007 (instrument made 

by FOS) 

FOS 

2007/1 8.3.07 64 




Fees Provisions (Incoming EEA and Treaty Firms) Instrument 2007 2007/51 27.9.07 69 



Fees Manual (FSCS Funding) Instrument 2007 2007/60 31.10.07 70b 



Financial Services Compensation Scheme (Amendment of Fees Provisions) Instrument 2008 2008/11 27.3.08 75 

Fees Manual (Financial Ombudsman Service Case Fees 2008/2009) Instrument 2008 

FOS 5.3.08 75 

2008/2 

Dispute Resolution: Complaints (Simplification (No 2) and other Amendments) Instrument 2008 2008/18 27.3.08 75 

(made jointly with FOS as FOS 2008/3) 

Periodic Fees (2008/2009) and Other Fees Instrument 2008 2008/23 22.5.08 77 



PRUDENTIAL STANDARDS 

PRU 

Integrated Prudential sourcebook 

First brought into force (in part) - 31.10.04 - 



Integrated Prudential Sourcebook (Insurers) (Amendment) Instrument 2005 2005/45 15.9.05 47 

Integrated Prudential Sourcebook (Amendment) Instrument 2005 2005/57 17.11.05 49 

Integrated Prudential Sourcebook (Insurers and Other Amendments) (No 2) Instrument 2005 2005/58 17.11.05 49 

Enhanced Capital Requirement Calculation (Reporting Forms) Instrument 2005 2005/59 17.11.05 49 



Capital Resources for Insurance and Mortgage Mediation Activities Instrument 2006 2006/2 26.1.06 51 

Capital Resources for Small Firms Instrument 2006 2006/23 27.7.06 57 

Financial Reinsurance Instrument 2006 2006/27 28.9.06 58 




No of Inst 

Date of Inst 

HN 


2006/43 25.10.06 59 



REVOKED 

GENPRU 

General Prudential sourcebook 

First brought into force (in part) 31.12.06 

General Prudential Sourcebook Instrument 2006 2006/40 25.10.06 59 

General Prudential Sourcebook (Transitional Provisions and Schedules) Instrument 2006 2006/51 23.11.06 60 




Capital Requirements Directive (Miscellaneous Amendments) Instrument 2007 2007/36 28.6.07 67 

General Prudential Sourcebook (Valuation for Counterparty Credit Risk) Instrument 2007 2007/63 6.12.07 71 


General Prudential Sourcebook (Capital Resources Amendment) Instrument 2008 2008/3 24.1.08 72 

General Prudential Sourcebook (Adequacy of Financial Resources) (Amendment) Instrument 2008 2008/12 27.3.08 75 


General Prudential Sourcebook (Capital Adequacy Calculations for Financial Conglomerates) 


2008/31 26.6.08 78 

BIPRU 

Prudential sourcebook for Banks, Building Societies and Investment Firms 

First brought into force (in part) 1.1.07 

Prudential Sourcebook for Banks, Building Societies and Investment Firms Instrument 2006 2006/41 25.10.06 59 

Prudential Sourcebook for Banks, Building Societies and Investment Firms (Transitional Provisions 2006/52 23.11.06 60 

and Schedules) Instrument 2006 




MiFID (Miscellaneous Amendments) (No 2) Instrument 2007 2007/27 24.5.07 66 


Capital Requirements Directive (Miscellaneous Amendments) Instrument 2007 2007/36 28.6.07 67 


Prudential Sourcebook for Banks, Building Societies and Investment Firms (Lifetime Mortgages) 2008/4 28.2.08 73 



INSPRU 

Prudential sourcebook for Insurers 

First brought into force 31.12.06 

Prudential Sourcebook for Insurers Instrument 2006 2006/42 25.10.06 59 








Regulated Covered Bonds (Related Amendments) Instrument 2008 2008/8 6.3.08 74 

Prudential Sourcebook for Insurers (Amendment) Instrument 2008 2008/13 27.3.08 75 

*MIPRU 

Prudential sourcebook for Mortgage and Home Finance Firms, and Insurance 

Intermediaries 



Annex B 29



No of Inst 

Date of Inst 

HN 



2006/43 25.10.06 59 


Interim Prudential Sourcebook for Investment Businesses (Exempt CAD firms) Instrument 2007 2007/2 25.1.07 62 





Prudential Sourcebook for Mortgage and Home Finance Firms, and Insurance Intermediaries (Use of 2008/14 27.3.08 75 

Intermediaries) Instrument 2008 




UPRU 

Prudential sourcebook for UCITS Firms 





Investment Firms (Auditor's Reports) Instrument 2007 2007/65 6.12.07 71 



2008/17 27.3.08 75 

IPRU 

(BANK) 

Interim Prudential sourcebook: Banks 


Interim Prudential Sourcebook for Banks (Interest Rate Position Risk Amendment) Instrument 2005 2005/13 17.3.05 42 


Interim Prudential Sourcebook for Banks (Amendment No 8) Instrument 2005 2005/51 19.10.05 48 


Interim Prudential Sourcebooks (Miscellaneous Amendments) Instrument 2006 2006/16 25.5.06 55 





Interim Prudential Sourcebooks (Liquidity) Instrument 2007 2007/52 27.9.07 69 

Interim Prudential Sourcebook for Banks (Liquidity) Instrument 2007 2007/61 31.10.07 70b 

IPRU 

(BSOC) 

Interim Prudential sourcebook: Building Societies 




Interim Prudential Sourcebook for Building Societies (Amendment No 10) Instrument 2005 2005/52 19.10.05 48 





Interim Prudential Sourcebook for Building Societies (Limits on Aggregate Holdings of Other 2006/54 23.11.06 60 

Societies’ Liabilities) Instrument 2006 

Interim Prudential Sourcebooks (Liquidity) Instrument 2007 2007/52 27.9.07 69 


IPRU 

(FSOC) 

Interim Prudential sourcebook: Friendly Societies 






Interim Prudential Sourcebook for Insurers (Amendment No 8) Instrument 2005 2005/61 17.11.05 49 


Interim Prudential Sourcebook for Friendly Societies (Amendment No 2) Instrument 2006 2006/65 21.12.06 61 







IPRU 

(INS) 

Interim Prudential sourcebook: Insurers 


Insurance Regulatory Reporting Instrument 2005 2005/3 20.1.05 40 




Enhanced Capital Requirement Calculation (Reporting Forms) Instrument 2005 2005/59 17.11.05 49 

Interim Prudential Sourcebook for Insurers (Public Disclosure of Group Capital Adequacy) Inst 2005 2005/60 17.11.05 49 













Interim Prudential sourcebook for Insurers (Marine Mutuals Reporting) (Amendment) Instrument 2008/15 27.3.08 75 

2008 


IPRU 

(INV) 

Interim Prudential sourcebook: Investment Businesses 






Interim Prudential Sourcebook for Investment Businesses (Amendment No 11) Instrument 2005 2005/27 19.5.05 44 







Supervision Manual (Retail Mediation Activities Return) (Suspension) Instrument 2006 2006/30 28.9.06 58 



Annex B 31


Interim Prudential Sourcebook for Investment Businesses (Exempt CAD firms) Instrument 2007 2007/2 25.1.07 62 




Capital Requirements Directive (Consequential Amendments) (No 2) Instrument 2007 2007/28 24.5.07 66 






MiFID (Deferred Matters and Consequential Amendments) (No 2) Instrument 2007 2007/62 31.10.07 70b 

Investment Firms (Auditor's Reports) Instrument 2007 2007/65 6.12.07 71 


2008/17 27.3.08 75 



BUSINESS STANDARDS 

COB 

Conduct of Business 



With-Profits Governance (Amendment No 2) Instrument 2005 2005/5 20.1.05 40 

Conduct of Business Sourcebook (Reattribution of Inherited Estates) Instrument 2005 2005/6 20.1.05 40 

Conduct of Business Sourcebook (Amendment No 20) Instrument 2005 2005/7 20.1.05 40 







Run-Off Plans for Closed With-Profits Funds Instrument 2005 2005/33 16.6.05 45 



Treating With-Profits Policyholders Fairly (Tax Charge) Instrument 2005 2005/41 21.7.05 46 


Simplified Prospectus (Amendment) Instrument 2005 2005/46 15.9.05 47 

Conduct of Business Sourcebook (Key Features for Automatic Enrolment) Instrument 2005 2005/47 15.9.05 47 




Pensions Tax Simplification Instrument 2005 2005/62 17.11.05 49 



Stakeholder Pension Decision Trees Amendment Instrument 2006 2006/12 27.4.06 54 




Incoming EEA Insurance Intermediaries Instrument 2006 2006/31 28.9.06 58 





Conduct of Business Sourcebook (Menu on Assignment of Life Policies) Instrument 2006 2006/56 23.11.06 60 


2006 


Conduct of Business Sourcebook (MiFID Transposition) Instrument 2007 2007/3 25.1.07 62 





Conduct of Business Sourcebook (Use of Dealing Commission) (Amendment) Instrument 2007 2007/22 22.3.07 64 

Stakeholder Pension Decision Trees (Amendment No 2) Instrument 2007 2007/23 26.4.07 65 

REVOKED BY Conduct of Business Sourcebook Instrument 2007 from 1 November 2007 2007/33 24.5.07 66 




*COBS 

Conduct of Business 


Conduct of Business Sourcebook Instrument 2007 2007/33 24.5.07 66 



Conduct of Business Sourcebook (MiFID, Article 4 and Other Amendments) Instrument 2007 

2007/44 26.7.07 68 




MiFID (Deferred Matters and Consequential Amendments) (No 3) Instrument 2007 2007/66 6.12.07 71 



Conduct of Business Sourcebook (Recording of Telephone Conversations and Electronic 

2008/6 28.2.08 73 


Permitted Links (Amendment No 2) Instrument 2008 2008/16 27.3.08 

Handbook Administration (No 9) Instrument 2008 2008/19 24.4.08 

Handbook Administration (No 10) Instrument 2008 2008/33 24.7.08 

75 

76 

79 


Conduct of Business Sourcebook (Amendment) Instrument 2008 2008/36 24.7.08 79 

ICOB 

Insurance: Conduct of Business 

Comes into force - 14.1.05 - 







Pension Term Assurance Instrument 2006 2006/3 23.02.06 52 

Insurance: Conduct of Business Sourcebook (Amendment No 2) Instrument 2006 2006/4 23.02.06 52 











Pure Protection Contract Definition (Removal of Age Limit) Instrument 2007 2007/24 26.4.07 65 

Fifth Motor Insurance Directive Instrument 2007 2007/29 24.5.07 66 





REVOKED by Insurance: New Conduct of Business Sourcebook Instrument 2007 2007/67 17.12.07 71a 

*ICOBS 

Insurance: Conduct of Business 


Insurance: New Conduct of Business Sourcebook Instrument 2007 2007/67 17.12.07 71a 



Annex B 33



*MCOB 

Mortgages and Home Finance: Conduct of Business 











Mortgages: Conduct of Business Sourcebook (Amendment No 3) Instrument 2006 2006/29 28.9.06 58 


Mortgages: Conduct of Business Sourcebook (Home Reversion and Home Purchase Activities) 2006/45 25.10.06 59 








as FOS 2007/2) 






CASS 

Client Assets 










MAR 

Market Conduct 

Chapters 1 to 3 first brought into force - 1.12.01 - 

Chapter 4 first brought into force - 20.9.01 - 












Markets (MiFID) Instrument 2007 2007/13 25.1.07 62 






Trade Data Monitors (Amendment) Instrument 2007 2007/54 27.9.07 69 





Short Selling Instrument 2008 2008/30 12.6.08 78 

TC 

Training and Competence 



Training and Competence Sourcebook (Money Market Instrument Activity) Instrument 2005 2005/10 17.2.05 41 











ML 

Money Laundering 






REVOKED 

REGULATORY PROCESSES 

AUTH 

Authorisation 












Deletion of Authorisation Manual Instrument 2006 2006/66 21.12.06 61 

REVOKED 

*SUP 

Supervision 


Chapters 6, 7, 8 and 10 first brought into force - 3.9.01 - 

Rest of SUP first brought into force - 1.12.01 - 




Integrated Regulatory Reporting (Minor Amendments) Instrument 2005 2005/11 17.2.05 41 


Fees (Miscellaneous) and Compensation Funding Instrument 2005 2005/17 17.3.05 42 



Annex B 35



Run-Off Plans for Closed With-Profits Funds Instrument 2005 2005/33 16.6.05 45 


Supervision Manual (Change in Liability or Legal Status) Instrument 2005 2005/43 21.7.05 46 





Integrated Regulatory Reporting (Amendment) Instrument 2005 2005/63 17.11.05 49 

Supervision Manual (Permitted Reporting Systems) Instrument 2005 2005/64 17.11.05 49 

Supervision Manual (Mystery Shopping) Instrument 2005 2005/65 17.11.05 49 




Supervision Manual (Amendment No 13) Instrument 2005 2005/71 15.12.05 50 




Capital Resources for Insurance and Mortgage Mediation Activities Instrument 2006 2006/2 26.1.06 51 


Fees Provisions (Amendment) Instrument 2006 2006/11 27.4.06 54 

Significant Management Function Reporting Requirement Amendment Instrument 2006 2006/13 27.4.06 54 

Supervision Manual (Retail Mediation Activities Return) Instrument 2006 2006/14 27.4.06 54 







Supervision Manual (Retail Mediation Activities Return)(Suspension) Instrument 2006 2006/30 28.9.06 58 


Gibraltar (Passporting) Instrument 2006 2006/32 28.9.06 58 










Integrated Regulatory Reporting (Home Reversion and Home Purchase Plans) Instrument 2006 2006/58 23.11.06 60 

Credit Unions Sourcebook (Amendment No 7) Instrument 2006 2006/59 23.11.06 60 



Supervision Manual (Insurance Conglomerates Reporting Amendment) Instrument 2006 2006/68 21.12.06 61 


Supervision Manual (Retail Mediation Activities Return) Instrument 2007 2007/5 25.1.07 62 


Integrated Regulatory Reporting (Electronic Reporting) Instrument 2007 2007/7 25.1.07 62 



Integrated Regulatory Reporting Instrument 2007 2007/10 25.1.07 62 








Capital Requirements Directive (Consequential Amendments) (No 2) Instrument 2007 2007/28 24.5.07 66 

Mortgage Lending and Administration Return (MLAR): Reporting (Amendment) Instrument 2007 2007/30 24.5.07 66 





as FOS 2007/2) 



Integrated Regulatory Reporting (Amendment) Instrument 2007 2007/45 26.7.07 68 





Integrated Regulatory Reporting (Amendment No 2) Instrument 2007 2007/59 25.10.07 70a 

Investment Firms (Auditor’s Reports) Instrument 2007 2007/65 6.12.07 71 







2008/17 27.3.08 75 







ENF 

Enforcement 

Chapters 2 to 5 first brought into force - 3.9.01 - 

Rest of ENF brought into force - 1.12.01 - 


Enforcement Manual (Code for Crown Prosecutors) Instrument 2005 2005/34 16.6.05 45 




Significant Management Function Reporting Requirement Amendment Instrument 2006 2006/13 27.4.06 54 





REVOKED BY Decision Procedure and Penalties Manual (Consequential Amendments) Instrument 

2007 from 28 August 2007 

2007/47 26.7.07 68 

DEC 

Decision making 






REVOKED BY Decision Procedure and Penalties Manual (Consequential Amendments) Instrument 

2007 from 28 August 2007 

2007/47 26.7.07 68 

DEPP 

Decision Procedure and Penalties 


Decision Procedure and Penalties Manual Instrument 2007 2007/46 26.7.07 68 


Regulatory Reform (Financial Services and Markets Act 2000) Order 2007 (Consequential Handbook 


2008/2 24.1.08 72 

Annex B 37

REDRESS 

*DISP 

Dispute Resolution: Complaints 



Integrated Regulatory Reporting (Minor Amendments) Instrument 2005 2005/11 17.2.05 41 

Complaints Sourcebook (Financial Ombudsman Service Case Fees 2005/2006) Instrument 2005 

(instrument made by FOS) 

FOS 

2005/1 10.3.05 42 






Complaints Sourcebook (Financial Ombudsman Service Procedural Rules) Instrument 2005 

(instrument made by FOS) 

FOS 

2005/2 1.10.05 47 


Fees Manual (Financial Ombudsman Service Fees) Instrument 2005 (instrument made by FOS) 

FOS 

2005/3 15.12.05 50 



Integrated Regulatory Reporting (Home Reversion and Home Purchase Plans) Instrument 2006 2006/58 23.11.06 60 



2006/3 


Dispute Resolution: Complaints (MiFID) Instrument 2007 2007/12 25.1.07 62 


as FOS 2007/2) 

Complaints Return Instrument 2007 2007/74 6.12.07 71 






*COMP 

Compensation 


Rest of COMP brought into force - 1.12.01 - 






Compensation Sourcebook (Insurance Mediation and Protected Contracts of Insurance) (Scope 2005/66 17.11.05 49 

Amendment No 2) Instrument 2005 







Compensation Sourcebook (Contribution for Mesothelioma Claims) Instrument 2006 2006/69 21.12.06 61 



Compensation Sourcebook (Protected Deposits Limit) Instrument 2007 2007/57 28.9.07 70a 



Compensation Sourcebook (Protected Contracts of Insurance) (Scope Amendment No 3) Instrument 

2008 

2008/38 24.7.08 79 


COAF 

Complaints against the FSA 


Complaints against the FSA Scheme (Amendment No 2) Instrument 2005 2005/55 19.10.05 48 





SPECIALIST SOURCEBOOKS 

CIS 

Collective Investment Schemes 

Part of Chapter 18 first brought into force - 3.9.01 - 

Rest of CIS brought into force - 1.12.01 - 

Collective Investment Schemes Sourcebook (Use of Financial Derivative Instruments in UCITS) 

Instrument 2005 2005/8 20.1.05 40 


Collective Investment Schemes Sourcebook (Publication of Prices of Units) Instrument 2005 2005/12 17.2.05 41 











REVOKED 

*COLL 



Collective Investment Schemes Sourcebook (Use of Financial Derivative Instruments in UCITS) 

Instrument 2005 2005/8 20.1.05 40 







New Collective Investment Schemes Sourcebook (Accounting Reference Periods and Other 

Amendments) Instrument 2006 2006/24 27.7.06 57 

New Collective Investment Schemes Sourcebook (Dual Pricing) Instrument 2006 2006/34 28.9.06 58 

New Collective Investment Schemes Sourcebook (OTC Derivative Requirements and Other 

2006/47 25.10.06 59 

Miscellaneous Amendments) Instrument 2006 



New Collective Investment Schemes Sourcebook (Amendment) Instrument 2007 2007/15 22.2.07 63 

New Collective Investment Schemes Sourcebook (Amendment No 2) Instrument 2007 2007/25 26.4.07 65 




Collective Investment Schemes Sourcebook (Qualifying Money Market Funds and Miscellaneous 

Amendments) Instrument 2007 2007/55 27.9.07 69 


Collective Investment Schemes Sourcebook (Amendment No 3) Instrument 2007 2007/71 6.12.07 71 

Collective Investment Schemes Sourcebook (UCITS Eligible Assets Directive and Other Amendments) 2008/5 28.2.08 73 



Collective Investment Schemes Sourcebook (Electronic Communications) Instrument 2008 2008/27 22.5.08 77 

Collective Investment Schemes Sourcebook (Property Authorised Investment Funds) Instrument 2008/28 22.5.08 77 

Annex B 39

2008 


CRED 

Credit Unions 





Supervision Manual (Mystery Shopping) Instrument 2005 2005/65 17.11.05 49 









Credit Unions Sourcebook (Amendment No 7) Instrument 2006 2006/59 23.11.06 60 




as FOS 2007/2) 





Complaints Return Instrument 2007 2007/74 6.12.07 71 







ECO 

Electronic Commerce Directive 







REVOKED by Conduct of Business Sourcebook Instrument 2007 from 1 November 2007 2007/33 24.5.07 66 


ELM 

Electronic Money 


Electronic Money Sourcebook (Amendment) Instrument 2005 2005/18 17.3.05 42 
















LLD 

Lloyd’s 





Provisions REDESIGNATED and sourcebook REVOKED by CRD (Consequential Amendments) 


2006/53 23.11.06 60 

PROF 

Professional Firms 











as FOS 2007/2) 







Dispute Resolution: Complaints (Simplification (No 2) and other Amendments) Instrument 2008 


2008/18 27.3.08 75 

RCB 

Regulated Covered Bonds 


Regulated Covered Bonds Sourcebook Instrument 2008 2008/07 6.3.08 74 


REC 

Recognised Investment Exchanges and Recognised Clearing Houses 

First brought into force for some applications and part of Chapter 7 - 3.9.01 - 

Rest of REC brought into force - 1.12.01 - 





Disclosure Rules Fees and Periodic Fees (2005/2006) Instrument 2005 2005/39 16.6.05 45 









Recognised Investment Exchanges and Recognised Clearing Houses (Notification Obligations) 


2007/72 6.12.07 71 

LISTING, PROSPECTUS AND DISCLOSURE 

*LR 

Listing Rules 


Annex B 41

Listing Rules Instrument 2005 2005/35 16.6.05 45 




Listing Rules Amendment Instrument 2006 2006/38 25.10.06 59 




Listing Rules (Investment Entities Interim Regime) (Amendment) Instrument 2007 2007/39 28.6.07 67 





Listing Rules (Investment Entities Single Regime) (Amendment) Instrument 2007 2007/73 6.12.07 71 




Listing Rules Sourcebook (Amendment No 2) Instrument 2008 2008/21 24.4.08 76 



PR 

Prospectus Rules 


Prospectus Rules Instrument 2005 2005/36 16.6.05 45 








DTR 

Disclosure Rules and Transparency Rules 


Market Abuse Directive (Disclosure Rules) Instrument 2005 2005/16 17.3.05 42 


Disclosure Rules Fees and Periodic Fees (2005/2006) Instrument 2005 2005/39 16.6.05 45 









Instruments outside the Handbook 



No of Inst 

Date of Inst 

HN 

UKLA 

Listing rules (as amended on 18.10.2001) and the UKLA Guidance Manual (incorporating the Listing 

Rules Guidance Notes) - 1.12.01 - 

UKLA Fees Instrument 2005 2005/19 17.3.05 42 

Listing Rules Fees Instrument 2005 2005/29 19.5.05 44 

REVOKED by Listing Rules and UKLA Guidance Manual (Revocation) Instrument 2005 2005/38 16.6.05 45 

See also under “Listing, Prospectus and Disclosure” in “Handbook instruments” (above) 

Interim Permitted Persons 

Interim Permitted Persons provisions brought into force: 

- to the extent they relate to a specific part of the Handbook 

- 15.11.01 - 

- otherwise 

1.12.01 

Interim Permitted General Insurance Intermediaries Instrument 2005 2005/1 10.1.05 40 

Interim Permitted Persons (Personal Pensions) Instrument 2006 2006/36 28.9.06 58 

Interim Permitted Persons (Home Reversion and Home Purchase Activities) Instrument 2006 2006/49 25.10.06 59 

Pensions Review 

Pensions Review provisions brought into force - 1.12.01 - 

No amending instruments made since 1.1.05 

Unauthorised Mutual Societies 

Unauthorised mutuals registration fees rules brought into force - 17.1.02 - 

Periodic Fees (Unauthorised Mutual Societies Registration)(2005/2006) Instrument 2005 2005/30 19.5.05 44 




PERG 

Perimeter Guidance manual 

Regulatory Guide brought into force - 1.7.05 - 

Perimeter Guidance Instrument 2005 2005/31 16.6.05 45 

Perimeter Guidance (Amendment) Instrument 2005 2005/50 15.9.05 47 


Perimeter Guidance Manual (Application of E-money Provisions) Instrument 2005 2005/68 17.11.05 49 


Perimeter Guidance (Pension Term Assurance) Instrument 2006 2006/6 23.2.06 52 

Perimeter Guidance (Property and Land Investment Schemes) Instrument 2006 

2006/7 23.2.06 52 

Perimeter Guidance (Pension Activities) Instrument 2006 2006/10 23.3.06 53 


Perimeter Guidance (Personal Pension Schemes) Instrument 2006 2006/35 28.9.06 58 

Perimeter Guidance (Home Reversion and Home Purchase Activities) Instrument 2006 2006/48 25.10.06 59 

Perimeter Guidance (MiFID and Recast CAD Scope) Instrument 2007 2007/20 22.3.07 64 

Perimeter Guidance (MiFID Scope) Instrument 2007 2007/21 22.3.07 64 







PERG is made and amended by instrument. 

Annex B 43

BSOG 

Building Societies Regulatory Guide 


Building Societies Regulatory Guide Instrument 2006 2006/60 23.11.06 60 

BSOG is made and amended by instrument 

RPPD 

Providers and Distributors Regulatory Guide 


Providers and Distributors Regulatory Guide Instrument 2007 2007/41 12.7.07 68 

RPPD is made and amended by instrument 

EG 

Enforcement Regulatory Guide 


Enforcement Regulatory Guide Instrument 2007 2007/49 26.7.07 68 

EG is made and amended by instrument 

UNFCOG 

Unfair Contract Terms Regulatory Guide 


Unfair Contract Terms Regulatory Guide Instrument 2007 2007/50 26.7.07 68 


UNFCOG is made and amended by instrument 


Annex C 

Guidance Notes issued by the FSA 

Number Title Made Dates in 

force 

Handbook 

Notice 

No 1 Frequently asked questions on the 

code of market conduct 

29.11.01 1.12.01- 

30.6.02 

HN 7, HN 12 

No 2 COB Transitional arrangements for 27.3.02 10.4.02- HN 10 

pre-N2 firms 

30.6.02 

No 3 Reproduction of the FSA logo by 24.5.02 29.5.02- HN 12 

authorised firms 

30.4.03 

No 4 Resilience test for insurers 28.6.02 From HN 13, HN 22 

28.6.02 1 

No 5 Grandfathered concessions and 22.7.02 1.8.02- HN 14 

waivers applications 

30.11.02 

No 6 Waivers applications: Introduction 22.7.02 1.8.02- HN 14 

of a standard form 

31.1.03 

No 7 Precipice bonds 11.2.03 19.3.03- HN 19 

18.3.04 

Expired 

Expired 

Expired 

Expired 

Expired 

Expired 

(including 

guidance 

on periodic 

statements, 

in force 

19.5.03- 

18.3.04) 

No 8 The Credit Union Common Bond 19.6.03 1.7.03- 

31.12.04 

HN 23 Expired 2 

1 

The expiry date of GN 4 is deferred until the implementation of the Integrated Prudential sourcebook (see Chapter 5 of HN 22). 

2 

The text of GN 8 has been incorporated into the Handbook. 

Annex C 45

Annex D 

Handbook provisions not yet in force 

This Table lists all instruments containing Handbook provisions which have yet to come into force, 

as a reminder to firms. This table should be read in conjunction with Annex E (“What’s New”). 

Listed by effective date within modules 

Module Change Instrument 

Glossary 

Correction of certain 

ambiguities arising out of 

UCITS Directive 


Sourcebook (UCITS Eligible Assets 

Directive and Other Amendments) 

Instrument 2008 [FSA 2008/5] 

When 

effective 

Described in 

23.7.08 (part) HN 73 Feb 2008 

(paras 2.12 – 

2.14) 

New reporting requirements 

Integrated Regulatory Reporting 

(Credit Institutions and Investment 

Firms) (No 2) Instrument 2006 

[FSA 2006/67] 

30.9.08 (part) HN 61 Dec 2006 

(paras 3.16 – 

3.19) 

Changes to implement new 

regime for connected travel 

insurance 

Connected Travel Insurance 


1.1.09 HN 77 May 2008 

(paras 2.24 – 

2.28) 

Amendments to 

implementation timetable for 

reporting certain data items 


Implementation (Amendment) 


1.4.09 HN 67 June 

2007 (paras 

2.20 – 2.33) 

SYSC 

Rules requiring firms to 

record telephone 

conversations and electronic 

communications 

Conduct of Business Sourcebook 

(Recording of Telephone 

Conversations and Electronic 


[FSA 2008/6] 

6.3.09 HN 73 Feb 2008 

(paras 2.7 – 2.9 

FEES 



insurance 



1.1.09 HN 77 May 2007 

(paras 2.24 – 

2.28) 

MIPRU 



insurance 



1.1.09 HN 77 May 2007 

(paras 2.24 – 

2.28) 

COBS 

Rules requiring firms to 

record telephone 

conversations and electronic 

communications 


(Recording of Telephone 

Conversations and Electronic 


[FSA 2008/6] 

6.3.09 HN 73 Feb 2008 

(paras 2.7 – 

2.9) 

ICOBS 



insurance 



1.1.09 HN 77 May 2007 

(paras 2.24 – 

2.28) 


Module Change Instrument 

SUP 

Amendments to 






When 

effective 

31.8.08 and 

1.4.09 (part) 

Described in 

HN 67 June 

2007 (paras 

2.20 – 2.33) 

Changes to regulatory 

reporting requirements 



(Amendment No 3) Instrument 

2007 [FSA 2007/70] 



Firms) Second Instrument 2006 

[FSA 2006/67] 

30.9.08 (part) HN 71 Dec 2007 

(paras 2.47 – 

2.49) 

30.9.08 (part) HN 61 Dec 2006 

(paras 3.16 – 

3.19) 

Introduction of revised 

financial reporting 

requirements for firms undertaking 

investment activities 



1.1.09 and 

1.7.09 (part) 

HN 62 Jan 2007 

(paras 2.3 – 

2.10) 

Requirement for EEA and 

non-EEA banks to report data 

item FSA044 


(Amendment No 4) Instrument 

2008 [FSA 2008/20] 

1.1.09 HN 76 Apr 2008 

(paras 2.12 – 

2.13) 



insurance 



1.1.09 HN 77 May 2008 

(paras 2.24 – 

2.28) 

DISP 

Revisions to Complaints 

Return 

Complaints Return Instrument 2007 

[FSA 2007/74] 

1.8.09 (part) HN 71 Dec 2007 

(paras 2.50 – 

2.52) 

COLL 

Correction of certain 

ambiguities arising out of 

UCITS Directive 


Sourcebook (UCITS Eligible Assets 

Directive and Other Amendments) 


23.7.08 HN 73 Feb 2008 

(paras 2.12 – 

2.14) 

CRED 

ELM 

Revisions to Complaints 

Return 

Amendments to 



Complaints Return Instrument 2007 

[FSA 2007/74] 




1.8.09 HN 71 Dec 2007 

(paras 2.50 – 

2.52) 

31.8.08 HN 67 June 

2007 (paras 

2.20 – 2.33) 




Firms) (No 2) Instrument 2006 

[FSA 2006/67] 

1.1.09 (part) HN 61 Dec 2006 

(paras 3.16 – 

3.19) 

PERG 



insurance 



1.1.09 HN 77 May 2007 

(paras 3.4 – 

3.5) 

Annex D 47

Annex E 

What’s New? 

listed by effective date within modules 

Module Change Instrument When 

effective 

Glossary Minor administrative Handbook Administration (No 10) 25.7.08; 6.8.08 

corrections, and revocation Instrument 2008 [FSA 2008/33] and 6.9.08 

of change made by FSA 

2008/27 

Described in 

paragraphs 

2.2 – 2.6 

New definitions, in response 

to the Biomass Directive 

Glossary Amendment (Biofuels and 

Biomass) Instrument 2008 [FSA 

2008/34] 

6.8.08 2.7 - 2.9 

New guidance on disclosure 

document for investment 

firms replacing two old 

documents 

Disclosure Documents 


[FSA 2008/35] 

6.8.08 2.18 – 2.22 

Changes relating to removal 

of two controlled functions 

Supervision Manual (Controlled 

Functions) (Amendment) 


6.8.08 2.28 – 2.30 

SYSC 

Minor administrative 

corrections 

Handbook Administration (No 10) 


6.8.08 2.2 – 2.6 






6.8.08 2.29 – 2.29 

GEN 




documents 



[FSA 2008/35] 

6.8.08 2.18 – 2.22 

FEES 


corrections 



25.7.08 2.2 – 2.6 

MIPRU 


corrections 



6.8.08 2.2 – 2.6 

COBS 


corrections 



6.8.08 and 6.9.08 2.2 – 2.6 




documents 



[FSA 2008/35] 

6.8.08 2.18 – 2.22 

Clarification of ‘best 

execution’ provisions for 

authorized fund managers 



[FSA 2008/36] 

1.11.08 2.23 – 2.25 


Module Change Instrument When 

effective 

Described in 

paragraphs 

ICOBS Minor administrative Handbook Administration (No 10) 6.8.08 2.2 – 2.6 

corrections 


MCOB New guidance on disclosure 



documents 



[FSA 2008/35] 

6.8.08 2.18 – 2.22 

SUP 






6.8.08 2.28 – 2.29 

DISP 


corrections 



6.8.08 2.2 – 2.6 

COMP 

Extension of FSCS cover to 

cover certain long-term 

insurance contracts taken out 

by EEA residents 

Compensation Sourcebook 

(Protected Contracts of Insurance) 

(Scope Amendment No 3) 


25.7.08 2.32 – 2.34 


corrections 



6.8.08 2.2 – 2.6 

COLL 

Revocation of changes made 

by FSA 2008/27 



25.7.08 2.2 – 2.6 

LR 


corrections 



6.8.08 2.2 – 2.6 

Annex E 49

The Financial Services Authority 

25 The North Colonnade Canary Wharf London E14 5HS 

Telephone: +44 (0)20 7066 1000 Fax: +44 (0)20 7066 1099 

Website: http://www.fsa.gov.uk 

Registered as a Limited Company in England and Wales No. 1920623. Registered Office as above.

Handbook Notice 79

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?