Handbook Notice 79

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