No more rules on re-reg – for now

The FSA said it will not write any additional rules for re-registration in light of the TISA project but said it could widen the scope of the re-reg requirement in the future.

In today's policy paper it said it would not be appropriate to set "prescriptive rules" for reg given the TISA project which aims to require all firms to offer in-specie re-registration. The TISA project is near completion.

However, the FSA said it could step in at a later date if re-registration progress is slow.

"If our post-implementation review work suggests that fund managers or other parties are causing unnecessary delays, or that timeliness is being achieved at the price of accuracy, we will consider further rules at that stage," it said. "We may also consider widening the scope of the requirement to cover other investments in the future."

Under the TISA project, all platforms should offer in-specie re-registration by 31 December 2012.