Global Trustee and Fiduciary Services Bite-Sized Issue 8 2024

25 QUICK LINKS AIFMD CBDC CRYPTOASSETS CSDR FINTECH FSB FUND LIQUIDITY MAR MIFID II/MIFIR OPERATIONAL RESILIENCE REMUNERATION SUSTAINABLE FINANCE/ ESG UCITS ASIA PACIFIC EUROPE IRELAND NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 8 | 2024 FCA Publishes Quarterly Consultation Paper No. 44 On 8 July 2024, the FCA published CP24/11: Quarterly Consultation Paper No. 44. Amongst the proposed miscellaneous amendments to the Handbook, the FCA consulted on: • Deleting COLL 5.2.30R(1)(c) so that the provisions in COLL 5.2.29R apply at the sub-fund level of an umbrella Collective Investment Scheme (CIS) investing in units of other CIS. • Clarification that the 25% limit set out in COLL 5.2.29R(3) must be applied at the level of the individual sub-funds of an umbrella CIS when its units are held by another CIS. • Removing references to long-term investment funds (LTIFs), the LTIF Regulation and EEA LTIFs from the Handbook following the government’s repeal of the LTIF Regulation on 1 January 2024. The consultation period closed on 12 August 2024. The FCA has not stated when the final rules may be published. Link to CP24/11 here