As you are probably aware, as per 1 April 2013, the FSA is replaced by two new regulatory bodies:
- The Prudential Regulation Authority (the PRA), which will be a subsidiary of the Bank of England, will be responsible for promoting the stable and prudent operation of the financial system through regulation of all deposit-taking institutions, insurers and investment banks. (www.bankofengland.co.uk/pra/Pages/default.aspx)
- The Financial Conduct Authority (the FCA), will be responsible for regulation of conduct in retail, as well as wholesale, financial markets and the infrastructure that supports those markets. The FCA will also have responsibility for the prudential regulation of firms that do not fall under the PRA’s scope. (www.fca.org.uk)
We want to emphasize that the FSA website is no longer updated, please use the new websites in case you are looking for information.
Because of the change the FSA Handbook is now split between the FCA and the PRA to form two new Handbooks. Most provisions in the FSA Handbook have been incorporated into the PRA’s Handbook, the FCA’s Handbook, or both, in line with each new regulator’s set of responsibilities and objectives.
Note: unfortunately the FCA has not incorporated the Handbook into their website yet, we will update as soon as available.