We are doing two things in this document.
Firstly, we give our feedback on responses to some recent consultations:
- chapter 4 of FSA CP12/37, which outlined the proposed new regulatory regime for Primary Information Providers (PIPs)
- chapter 3 of FSA CP13/5, which outlined proposed fees for PIPs, and
- chapter 2 of FSA CP13/6, which proposed changes to the Enforcement Guide (EG) regarding PIPs.
Secondly, and arising from feedback regarding the definition of a Regulatory Information Service (RIS) contained in Appendix 3 of CP 12/37, we are consulting further on that issue.
Why are we issuing this consultation paper (CP)?
We have published a range of proposals on PIPs in several consultation papers. The key driver for these proposals was the Financial Services Act 2012 which moved the pre-existing informal framework for Regulatory Information Services onto a formal, statutory footing. Under the new statutory regime, we will approve and supervise PIPs, and the requirements (similar to those in the RIS Criteria) will be enforceable. We have listened to the market and respond to the feedback to several consultations in one document. Our response includes consulting further on one issue arising from the definition of a RIS.
Who is this CP aimed at?
This paper will interest:
- issuers
- regulated information services
- potential primary information providers.
What are the next steps?
We want to know what you think of our proposals. Please send us your comments by 27 October 2013 using the online response form or email: [email protected].
Depending on responses, we intend to make the rules so they come into effect in early 2014.
Want to find out more?
For more information:
- look at the FCA Handbook[4]
- FSA CP12/37[5]: the Financial Services Bill
- FSA CP13/5[6]: Quarterly consultation (no. 35)
- FSA CP13/6[7]: Regulatory reform: FCA Handbook amendments relating to the Enforcement Guide