FCA consults on its fees and levies proposal for 2023/24
The FCA is consulting on the rates for the regulatory fees and levies for the next financial year (1 April to 31 March). The Consultation Paper (CP 23/7) explains how it proposes to recover the costs of carrying out its work, covering: The FCA’s annual…
FCA publishes its 2023/24 business plan
Although the FCA published a three-year Strategy last year, it also published the usual 12-month Business Plan, and has done so again this year. Within the Business Plan 2023/24 the FCA has set out an ambitious programme for the next 12 months to achieve…
Financial Ombudsman service award limit increases
The FOS award limit is the maximum amount it can require a financial business to pay when it upholds complaints. This limit is adjusted each year in line with inflation, as measured by the Consumer Prices Index (CPI). The FCA has confirmed that, from 1…
FCA launches a call for input in relation to SME access to FOS
The FCA has published a call for input on whether the thresholds for SMEs to be able to refer complaints to FOS remain appropriate. This review seeks to ensure that access to the Ombudsman Service remains available for SMEs that are unlikely to be able to…
FCA publishes the latest regulatory initiatives grid
The Regulatory Initiatives Grid is updated twice each year by the Financial Services Regulatory Initiatives Forum, which is made up of representatives from the Bank of England, FCA, PRA, Payment Systems Regulator, the Competition and Markets Authority, the…
The FCA issues a 'Dear CEO' consumer duty letter to general insurance and pure protection firms
The FCA has issued a ‘Dear CEO’ letter to general insurance and pure protection sector firms as part of its promised sector-specific publication of information and assistance in relation to the Consumer Duty. The letter sets out: a reminder of the…