BCOBS TP 1 Transitional Provisions

1(1)

(2)

(3)

(4)

(5)

(6)

Materials to which the transitional provision applies

Transitional provision

Transitional provisions: dates in force

Handbook provisions: coming into force

1

BCOBS

R

Expired4

4
4 4

51A

BCOBS 2A.1.1R(1) to (3)

R

A firm need not comply with BCOBS 2A.1.1R(1) to (3) in relation to an automatic renewal of an agreement for an optional additional product which was entered into on or before 31 March 2016 provided:

From 1 April 2016

On 1 April 2016

(1)

the automatic renewal of the agreement is on substantially the same terms. The phrase “on substantially the same terms” is to be interpreted in the same way as in BCOBS 2A.1.1R(11)(b) and (c);

(2)

on the occasion of the first automatic renewal on or after 1 April 2016, the firm takes reasonable steps to ensure that the banking customer is informed:

(a)

that the renewal of the agreement is optional;

(b)

that the banking customer may elect not to renew the agreement; and

(c)

of the effect of the non-renewal of the agreement, if any, on the retail banking service; and

(3)

the procedure to be used by banking customers for electing not to renew the agreement pays due regard to the interests of those banking customers and treats them fairly.

61B

BCOBS 2.2A, BCOBS 2 Annex 1R and, BCOBS 4.1.2G(2A)

R

This provision applies where a firm has in its possession, as at the date the Banking: Conduct of Business Sourcebook (Amendment No 4) Instrument 2015 is made, a stock of direct offer financial promotions on paper or a stock of pre-sale material on paper that incorporate a summary box that meets the standards in the ‘Industry Guidance for FCA Banking Conduct of Business Sourcebook’ of September 2013, confirmed by the FCA in accordance with PS07/16, as it stood as at 3 December 2015.

1 December 2016 to 31 May 2017

1 December 2016

61C

BCOBS 2.2A, BCOBS 2 Annex 1R and BCOBS 4.1.2G(2A)

R

Where BCOBS TP 1B applies, until 31 May 2017, the direct offer financial promotion or pre-sale material referred to in 1B may be treated by the firm as including a summary box in the form set out in BCOBS 2 Annex 1R that complies with the rules in BCOBS 2.2A.

1 December 2016 to 31 May 2017

1 December 2016

2

BCOBS 4.1.1 R

R

Expired4

4
4 4

3

BCOBS 4.1.1 R

G

Expired4

4
4 4

4

BCOBS 4.1.1 R

R

Expired4

4
4 4

5

BCOBS 5.1.13 R

R

Expired4

4
4 24

26

BCOBS 4.1.1 R

R

Expired4

4
4 34

37

BCOBS 4.2.2 G4

4

R

Expired4

4
4 4

78

BCOBS 5.1.10BG

R

A firm need not have regard to the guidance referred to in column (2) in interpreting and applying BCOBS 5.1.10AR until 18 months after the date on which the regulatory technical standards adopted under article 98 of the Payment Services Directive come into force.

13 January 2018 until the date specified in column (4)

13 January 2018

89

BCOBS 7.1.2R

R

For the purposes of BCOBS 7.1.2R(1):

(i) the current account period in which 15 August 2018 falls is to be treated as starting on 15 August 2018; and

(ii) a reference to the two current account measurement periods which precede that current account period should be read as a reference to the period beginning on 1 February 2018 and ending on 14 August 2018.

From 15 August 2018 to 30 September 2018

15 August 2018

810

BCOBS 7.1.2R

G

The effect of TP 9 is that a firm that on 15 August 2018 has 70,000 or more personal current accounts, or 15,000 or more business current accounts, under one of its trading names, and which has had the requisite number of accounts since 1 February 2018, must comply with BCOBS 7 from 15 August 2018. That means publishing, on 15 August 2018, the standing information required by BCOBS 7.3.1R and 7.3.3R(1) and (3) (account opening information), BCOBS 7.5.1R and 7.5.2R (information about the availability of certain services and helplines), BCOBS 7.6.1R (major operational or security incidents) and 7.6.3R (complaints). Providing the firm continues to have the requisite number of accounts, it will also have to publish its first information under BCOBS 7.3.5R and 7.4.1R no later than 15 February 20199.

From 15 August 2018 to 30 September 2018

15 August 2018

811

BCOBS 7.1.2R

R

For the purposes of BCOBS 7.1.2R(1)(a)(ii) and BCOBS 7.1.2R(1)(b)(ii), references to preceding current account measurement periods should be read as including periods which, or part of which, occurred before 15 August 2018.

From 1 October 2018 to 31 March 2019

15 August 2018

812

BCOBS 7.1.2R

G

In determining, before 1 April 2019, whether a firm has had the requisite number of accounts “throughout the previous two current account measurement periods”, periods which occurred wholly or partially before 15 August 2018 are to be counted.

From 1 October 2018 to 31 March 2019

15 August 2018

813

BCOBS 7.3.5R and 7.4.1R and BCOBS 7 Annex 1R

R

Firms are not obliged to publish information that relates to a current account measurement period ending before 1 October 2018. Accordingly, firms may omit Tables 7 and 8 of BCOBS 7 Annex 1R from the information they publish in respect of current account measurement periods ending before 1 October 2018.

From 159 August 2018 to 14 February 2019

15 August 2018

814

BCOBS 7.3.5R and 7.4.1R and BCOBS 7 Annex 1R

G

The rules to which TP 13 applies require firms to publish information about the speed of the account opening process and the speed of replacing a debit card. TP 13 permits firms not to publish information that relates to a current account measurement period ending on or before 30 September 2018. Firms must, however, collect information relating to the current account measurement period beginning on 1 October 2018 and publish it no later than 15 February 2019.

From 15 August 2018 to 14 February 2019

15 August 2018

815

BCOBS 7.6.1 and BCOBS 7 Annex 1R

R

Firms may disregard current account measurement periods ending before 1 April 2018.

From 15 August 2018 to 14 May 2019

15 August 2018

816

BCOBS 7.6.1 and BCOBS 7 Annex 1R

R

Firms may:

(a) in respect of the current account measurement period ending on 30 June 2018, omit the right hand column of Table 4 of BCOBS 7 Annex 1R;

(b) in respect of the current account measurement period ending on 30 September 2018, refer to “6 months” instead of “12 months” in the heading of the right hand column of Table 4 of BCOBS 7 Annex 1R; and

(c) in respect of the current account measurement period ending on 31 December 2018, refer to “9 months” instead of “12 months” in the heading of the right hand column of Table 4 of BCOBS 7 Annex 1R.

From 15 August 2018 to 14 May 2019

15 August 2018

817

BCOBS 7.6.1 and BCOBS 7 Annex 1R

G

BCOBS 7.6.1R(3)(c) and (d) require firms to publish information about the number of operational and security incidents reported in a current account measurement period aggregated with those reported in the previous three periods (i.e. a 12 month total). TP 15 means that firms do not have to include periods which end before 1 April 2018. TP 16 allows firms to omit the relevant column in Table 4 of Part 2 of BCOBS 7 Annex 1R, or to amend the heading of that column so that it is clear that the aggregated figures apply to a 6 or 9 month period (as relevant), until such time as there is a 12 month period to aggregate.

From 15 August 2018 to 14 May 2019

15 August 2018