UK FCA Handbook Notice 134

The UK Financial Conduct Authority (FCA) has published Handbook Notice 134, outlining amendments to the FCA Handbook resulting from the following statutory instruments:

• (i) Markets in Financial Instruments (Transfer of MiFID Organisational Regulation) Instrument 2025; (ii) Technical Standards (Markets in Financial Instruments Regulation) (Organisational Requirements) Instrument 2025; and (iii) Commodity Derivatives (Position Limits, Position Management and Perimeter) (No 2) Instrument 2025. These instruments mainly entered into force on 23 October, with other parts coming into force on 12 January 2026 and 19 January 2026. The instruments make changes relating to the MiFID Organisational Regulation. The FCA is keeping the substance of the MiFID Organisational Regulation requirements the same without any policy or scope changes. Most of the changes that have been made are to reflect its Handbook drafting style and to clarify drafting where possible.
• Definition of Capital for Investment Firms Instrument 2025, which enters into force on 1 April 2026. This instrument removes all cross-references to the UK Capital Requirements Regulation from MIFIDPRU 3 and establishes a standalone framework for regulatory capital tailored specifically to investment firms.
• Senior Management Arrangements, Systems and Controls (Remuneration Codes and Consequential Amendments) Instrument 2025, which entered into force on 16 October. This instrument makes changes to make the regime simpler, more effective and proportionate in meeting its aim of ensuring accountability for risk taking.

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