Regulatory Updates

As the financial landscape evolves, firms’ Training and Competence (T&C) schemes also need to evolve to remain robust and to align with the principles of the FCA’s Consumer Duty. The FCA will likely expect insurance distributors to include a focus on the…

A number of ICS staff recently attended a client money webinar held by the Institute of Chartered Accountants of England and Wales (ICAEW). Here we share the key messages from the webinar and some insights on the issues arising out of client money audits.

September 2023 has been a busy month for the diversity, equality and inclusion discussion. We have seen the publication of the long awaited FCA consultation paper CP23/20 Diversity and inclusion in the financial sector – working together to drive change

The FCA has commenced a second wave of product oversight and governance thematic review work, to understand whether the product reviews, including fair value assessments and product distribution reviews are being undertaken in line with the FCA’s expectations…

Following on from its report on multi-occupancy buildings insurance, the FCA is proposing new rights and protections for leaseholders to improve the transparency of the multi-occupancy leasehold buildings insurance market.

The FCA’s new Rules for all Principal firms came into force on 8th December 2022. The FCA clarified and strengthened the responsibilities and expectations of Principal firms, and one of the FCA’s organisational commitments is improving Principals’ oversight…