EU forces FSA to delay handbook reforms

The FSA had been expected to publish a policy statement today detailing changes to its handbook, as part of its promise to review some rules governing T&C and APs. However, a statement just issued by the regulatory authority reveals those decisions are being hindered by implementation of the Markets in Financial Instruments Directive and the FSA cannot make the necessary changes until the European Commission has decided what MiFID rules will be. “Today's Policy Statement does not include feedback on [T&C and Approved Persons] proposals. This is due to the need for the FSA to take into a...