Regulatory Updates

A key element of the FCA’s Consumer Duty Rules is that firms must monitor the outcomes that retail customers are experiencing from their products. The Rules also require firms, at least annually, to prepare, review, and approve at governing body level (so at…

In its Business Plan for 2024-25, the FCA has set out a programme of work for the final year of its current 3-year strategy. The planned programme of work builds on progress made over recent years to become a “more outcomes-based, assertive and data-led…

A lack of diversity in financial services was highlighted as a factor in the 2008 financial crisis. Looking at risk management outcomes, studies that compared the outcomes between diverse and non-diverse Boards following the crisis found that businesses with…

With the current FCA focus on value in insurance, firms could take an opportunity to use an appropriately ‘value’-focused 2024 T&C plan to help demonstrate their overall value proposition.

As 2023 draws to a close, we’re providing a further reminder of the FCA reporting that firms will need to include in their Compliance Monitoring Plans for 2024, along with some other key deadlines. There is now a growing list of FCA reporting and notification…

Following the introduction of the new Appointed Representatives regime in December 2022, Principal firms have an obligation, at least annually, to review their ARs and to complete, review and sign off a self-assessment document. This Hot TopICS looks at those…