| Link(s): | The post-Brexit Handbook: a collective opportunity | FCA Repeal and replacement of retained EU law | FCA |
Context
The FCA and other regulators have been given the ability to set out what a UK financial services rulebook outside of the EU is going to look like. The FCA remains committed to telling firms as much as they can as early as they can. The FCA will be keeping its website updated with the individual files as and when it makes progress.
Key points to note
To help ensure consistency and drive good outcomes, the FCA wants to ensure that its Handbook is clear and accessible. The FCA’s overall aims for the Handbook are to have clear rules, reduce regulatory burdens where appropriate, and enhance accessibility.
To achieve this, the FCA will be applying the following principles:
- bringing together regulatory provisions so that the Handbook becomes a ‘one-stop shop’;
- using the existing structures in the Handbook where possible, and only creating new sourcebooks where necessary;
- relying on existing requirements as much as possible;
- considering outcomes-based regulation, where appropriate; and
- seeking to reduce complexity by drafting the FCAs Handbook format and style where possible and aiming to align standards addressing similar issues across files where possible.
Next actions
None – for information and awareness.