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On June 24, 2015, the PRA and the FCA launched a consultation on
proposals to reform the Credit Unions Sourcebook in the Handbook.
The PRA intends to replace the current Credit Unions Sourcebook
that was inherited from the FSA with a new Credit Unions Rulebook
in the PRA Rulebook which will focus on the safety and soundness of
credit unions and will reflect the now broader range of financial
services offered by credit unions. The FCA intends to replicate
many of the provisions of the Credit Unions Sourcebook. The
consultation closes on September 30, 2015.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
