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Update

ISSUE 59, february 2006

Prudential Regulation


	Look out for…

The latest edition of the FSA's Handbook Development newsletter (No 71), indicates, inter alia, that the following consultation papers, discussion papers and feedback statements, which are likely to be of interest to FOA members, are due to be published over the coming months:

Star Rating*	Title	Expected date	Consul'n period	Expected feedback
3 stars	Strengthening Capital Standards – second CP	Feb 2006	2 months	Q2 2006
2 stars	Regulatory reporting requirements for firms impacted by the Capital Requirements Directive (including feedback to DP05/1)	March 2006	2 months	Q3 2006
2 stars	Strengthening Capital Standards – Changing the Handbook - CP	Q2 2006	3 months	Q4 2006

* As explained in Handbook Development newsletter No 47, 3 star CPs are “high-profile consultations, and major policy changes affecting a large number of consumers or financial sectors,” 2 star CPs contain “other important policy changes” and 1 star CPs contain “minor changes.”


	CRD Implementation Bulletin

As some of you may be aware, the FSA has just published a 'CRD Implementation Bulletin', which is "aimed at medium-sized firms affected by the Capital Requirements Directive (CRD)." The bulletin is available from the FSA website.

In the bulletin the FSA states that: "Information for smaller firms that are not relationship-managed and caught by CRD will be provided in the ‘Small firms' section of the FSA website shortly, whilst "draft guidelines on MiFID and CRD scope issues," in question and answer format, will be published on the FSA website "soon" as "part of our MiFID consultation package."

Please do not hesitate to contact Jane Green if you have any questions or would find it helpful to discuss any matters in more detail.


	“Hot topic route maps”: how to navigate your way around the CRD

As discussed in the previous Update, the FOA will be developing a number of "hot topic route maps" to help firms find their way through the consolidated CRD (whether for implementation and/or lobbying purposes). Unfortunately, however, we have received a poor response to our request for "hot topics" and frequently asked questions (e.g. how do I find the netting/collateral provisions?), therefore, if you have any thoughts or ideas please do not hesitate to contact Jane Green.


	CRD training: presenters urgently required

The FOA's CRD training menu for 2006 has now been finalised. The programme includes awareness building courses and more detailed, interactive, seminars and workshops on specific topics and will take into account the differentiated nature of the FOA's membership. Before details can be announced, however, we urgently need to hear from any associate members who would be interested in developing a seminar/workshop or presenting a more general awareness building course. Please contact Jane Green for further details.