On March 19, the FCA announced temporary measures with respect to RTS 27 reports and 10% depreciation notifications.
The FCA will not take action against firms who do not produce RTS 27 reports for the rest of 2021. They are also preparing a consultation of the RTS 27 reporting obligation with a view to removing it given concerns around the value the reports bring and the burden involved in producing them.
10% depreciation notifications
Similar to the consultation of the RTS 27 reporting requirements, the FCA are preparing to evaluate on the effectiveness of the 10% depreciation notification requirement. Consequently, they are extending the temporary measures on the requirement for firms to issue 10% depreciation notifications to investors (COBS 16A.4.3 UK) until the end of 2021.
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