Regulatory Updates

FCA publishes a consumer duty 'one month to go' web page with ten questions to consider

28 Jun 2023 - In The News

The FCA has published or updated three web pages in relation to the Consumer Duty, one of which is a reminder for firms about what they should be doing and considering with one month to go to the Consumer Duty implementation date. The FCA’s Consumer Duty…

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FCA publishes a warning about the use of MOVEit software

20 Jun 2023 - In The News

The FCA has published a web page in relation to a vulnerability to the file transfer application MOVEit that has been impacting organisations and exposing personal data. The National Cyber Security Centre (NCSC) is working with affected businesses to…

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Financial Ombudsman service reveals top five most complained about products

13 Jun 2023 - In The News

The Financial Ombudsman Service (FOS) has published its annual complaints data from April 2022 / March 2023 along with insight into the common problems raised by consumers. These new figures show that current accounts, credit cards, car/motorcycle insurance,…

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The FCA's consumer duty assessment of product value frameworks

8 Jun 2023 - In The News

For insurance firms, the requirement to apply a ‘fair value for a reasonably foreseeable period’ test to insurance products has been in place since October 2021. This is reinforced by the Consumer Duty (“the Duty”), under which firms need to deliver and…

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Information Commissioner's Office delivers keynote speech at the Data and the Future of Financial Regulation summit

5 Jun 2023 - In The News

John Edwards, the Information Commissioner, delivered a keynote speech at the Data and the Future of Financial Services Summit. The speech focussed on the ICO’s regulatory philosophy and how it is empowering businesses in the finance sector and protecting…

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FCA PS23/3 - A new financial resilience regulatory return

23 May 2023 - In The News

High quality baseline financial resilience data is essential in helping the FCA to understand the risk of firm failure and risks across the financial services sector, improving its ability to protect consumers, ensure market integrity and ultimately, helping…

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