UK FSA publishes implementation bulletin for the CRD
The Financial Services Authority (FSA) in the UK has published issue three of its Capital Requirements Directive (CRD) implementation bulletin for investment firms, banks and building societies.
The bulletin provides an overview of relevant consultation papers published in the last quarter specific to the CRD, including systems and controls, regulatory reporting and the structure of the new prudential sourcebooks. The FSA has also detailed practical information relating to the transposition of the CRD in the UK.
The newsletter also outlines a potential change in the regulator’s policy on issuing firm guidance. Financial services firms will have to consider if they will be able to rely on
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