Our regular roundup of the latest news and developments from the FCA.
COBS
The aim of the reforms is to rebalance risk and allow firms to make well-founded assessments of whether a client meets the threshold of a professional client.
The FCA plans to extend the High-Level Standards in the FCA Handbook to cryptoasset firms in line with FSMA-authorized entities.
Proposed changes include those to the SYSC, COBS, ICOB and SUP handbook modules.
Under the proposals, all firms wishing to carry out regulated cryptoasset activities will be required to obtain FCA authorization.
The proposed CCI regime aims to replace the PRIIPs regime and certain UCITS disclosure requirements.
Therese Chambers outlined new enforcement strategy to speed up investigations and clarified new enforcement publicity proposals.
In his regular column, Bovill’s Executive Chair Ben Blackett-Ord discusses how the new crypto financial promotions regime may cause consumer confusion.