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  • FCA Handbook Notice 130

    23 May 2025
    The UK Financial Conduct Authority (FCA) has published Handbook Notice 130, which outlines updates to the FCA Handbook, including changes for fund managers stemming from the recommendations of the Investment Research Review and feedback to consultation paper CP24/21. These changes allow fund managers to use a joint payment option to pay for investment research and execution services, subject to a set of guardrails, aligning with rules already applicable to MiFID investment firms.

    The changes are implemented through the Handbook Administration (Provision Numbering) Instrument 2025 and include:
    • The new rules mentioned above which enable pooled vehicles to adopt specific payment options for investment research, aligning with MiFID investment firms' regulations.
    • Introduction of a new regulatory return for consumer credit firms to clarify FCA expectations and reduce the need for ad hoc information requests.
    • Minor administrative changes to improve the machine-readability of the Handbook and correct cross-references, without changing FCA policy.

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