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Compliance Portal
December 1, 2023
The Regulatory Initiatives Grid, from the Financial Services Regulatory Initiatives Forum, sets out the regulatory pipeline. It is published so the financial services industry and other stakeholders can understand and plan for the timing of the initiatives that may have a significant operational impact on them. Contributors to the Regulatory Initiatives Forum include the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA), HM Treasury (HMT), the Information Commissioner’s Office (ICO) and the Bank of England (BoE). The Grid has been published as an interactive dashboard web-page, as a .pdf document, and in a spreadsheet format.
The key initiatives noted in the Grid are:
- A ban on cold calling for consumer financial services and products.
- A regulatory framework for approval of financial promotions.
- A post-implementation review of the Guidance for firms on the fair treatment of vulnerable customers.
- A complaints reporting review
- The Consumer Duty comes into force for closed products on 31 July 2024.
- A review of the Senior Managers and Certification Regime.
- Diversity and inclusion in financial services – policy proposals aimed at supporting progress on improving diversity and inclusion across the financial sector.
- Oversight of critical third parties.
- Incident and outsourcing and third-party reporting – a Consultation is planned for H2 2024.
If you have any questions regarding FCA Compliance please get in touch and one of our experienced FCA Compliance Consultants will be happy to help. Find out more about our Regulatory Compliance Services.
