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FCA outlines next steps in its Consumer Duty rule review
As part of ‘reducing the regulatory burden’, and as outlined in its letter to the Prime Minister on 16th January this year, the FCA has outlined the first steps in its plans to review Handbook provisions. The first steps include reviewing expectations for…
FCA speech: “The Gordian knot of growth” – redress events commentary
Nikhil Rathi, FCA Chief Executive, has delivered a speech at an Association of British Insurers (ABI) roundtable event at which he has spoken about how the FCA is working to support growth. The tone of the speech acknowledges the pressure the regulator is…
House of Lords Committee says that naming and shaming is not the way to regulate
The House of Lords Financial Services Regulation Committee has published its report on the FCA’s plans to publish details of enforcement investigations early (see its Consultation Paper CP24/2). The Committee’s report is titled “Naming and shaming: how not to…
FCA Consumer Duty Board Report Review
The FCA published ‘good practice and areas for improvement’ findings on 11th December 2024, following its review into firms’ approaches to completing the first annual Consumer Duty Board report. We recommend that firms review their 2024 Board report, and their…
FCA publishes Consultation Paper CP24/28: Operational Incident and Third-Party Reporting
The FCA has published a Consultation Paper CP24/28 in relation to reporting operational incidents and reporting material third-party arrangements. Within the Consultation (see Appendix 2 of the Draft Rules section) there is a link to the proposed operational…
FOS publishes Consultation response and writes to FCA
FOS has published its responses to its Consultations charging Claims Management Companies (CMCs) and other Professional Representatives (PRs), and has written to the FCA with the outcome accordingly. FOS published its second consultation paper in May 2024 on…
