On 26 September 2014, the FCA published CP14/21, which incorporates its policy statement on CP14/02 on sponsor competence and other changes to the Listing and Prospectus Rules. CP14/21 also includes a consultation on joint sponsors and a call for views on sponsor conflicts.
Following feedback, the FCA's approach to issues consulted on in CP14/02 includes the following:

• The FCA will retain the obligation on sponsors to submit at least one sponsor declaration every three years.
• The five competency sets proposed in LR 8.6.7R remain, but the FCA compliance has now removed the concept of a competence framework from the Listing Rules and its proposed Technical Note. Instead, LR 8.6.12R(9) now requires a sponsor to have effective systems and controls for compliance with each of the requirements in LR 8.6.7R(2)(b) and the Technical Note includes a more full description of the five competency sets.
• The FCA will proceed with its proposal to convert LR 8.6.12G from guidance into a rule.
• The concept of appointing a key contact for each transaction remains, although the requirement that such person must be proficient in the procedural requirements and processes of the Consumer credit has been deleted.
• Applicants will be able to limit their approval to providing sponsor services to premium listed investment companies only.
• The revised definition of a Class 1 Circular will proceed as set out in CP14/02.
• Proposed amendments to the Prospectus Rules will remain, with amendments to relax the obligation on an applicant to ensure that it submits a compliant and factually accurate prospectus.