Regulatory Updates

Having reminded firms that its current Plans and Budget Consultation closes soon, FOS has taken the opportunity to restate the views it expressed in the Consultation about the nature of the complaints it expects to receive over the next twelve months.

In its November fee consultation paper, as highlighted in our News article of 27th November 2023, the FCA proposed to change the way certain consumer credit firms calculate the proxy measure of income, updating its CCR002 and CCR007 help pages accordingly.…

The FCA and the PRA have jointly published a Consultation in relation to the 2024/25 Management Expenses Levy Limit (MELL) for the FSCS. It is accompanied by an Appendices document, with Appendix 4 in the document (on page 8) setting out the proposed 2024/25…

The FCA has published a web page setting out its intentions to intervene again in the motor finance market, and has published a Policy Statement regarding temporary changes to handling rules for motor finance complaints. The FCA’s views in this matter are…

The FCA has published new Rules and Guidance in relation to sustainability disclosures in a Policy Statement PS23/16 which, although aimed at the investment sector, include a specific Rule that captures all firms. The aim of the measures introduced is to…

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…