Regulatory Updates

FCA publishes Consumer Duty firm survey findings

26 Feb 2024 - In The News

In Autumn 2023 the FCA conducted a survey of 634 firms that had not been surveyed previously. The FCA was particularly interested in how smaller firms (1-49 employees) had implemented the Duty and whether firms had made changes to their consumer contracts and…

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The FCA publishes a speech on Consumer Duty and findings in relation to good and bad practice

26 Feb 2024 - In The News

Sheldon Mills, FCA Executive Director, Consumers and Competition, has given a speech looking ahead to the deadline for ‘closed products’. Mills addresses some of the challenges firms are facing and sets out that the FCA expects firms to have a clear roadmap to…

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The FCA continues investigation into handling of non-financial misconduct

16 Feb 2024 - In The News

On the 6th February, the FCA sent a letter to wholesale insurers and intermediaries requesting data on incidents of non-financial misconduct and how they are dealt with, and indicated that banks and brokers will be next to be contacted.

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Home Insurance Premiums Rise due to Adverse Weather and Inflated Repair Costs

15 Feb 2024 - In The News

According to the latest ABI Household Premium Tracker, after multiple storms hit the UK, the average house insurance premium rose by 4% in the last quarter of 2023 and with recent widespread flooding across the UK, it is thought that premiums could rise again.…

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The FCA and the Practitioner Panel launch their joint survey for 2024

5 Feb 2024 - In The News

The FCA and Practitioner Panel joint survey will be sent to a sample of regulated firms to gather feedback on how the industry is regulated. The survey is carried out on the FCA’s behalf by Verian (formerly known as Kantar Public), an independent social…

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FCA responds to its independent panels’ annual reports

5 Feb 2024 - In The News

The FCA consults on its work with six independent statutory panels, which are integral to developing FCA policies and other regulatory decisions. Statutory panels represent the interests of consumers and practitioners, including smaller regulated firms and…

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