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FCA publishes a suite of proposals to reduce regulatory burdens
The FCA has issued four sets pf publications to try to reduce the regulatory burden on firms whilst at the same time supporting growth and competitiveness and avoiding consumer harm. The FCA, through this review, is seeking to establish whether the rules…
FOS speech at the FCA’s ‘Consumer Duty: One year on’ webinar
At the FCA’s “Consumer Duty: One year on” webinar, Abby Thomas, the FOS Chief Executive and Chief Ombudsman, delivered a speech reflecting on the first year of Consumer Duty. The speech covered the role of FOS, the impact the Consumer Duty has had on…
FCA speech at its ‘Consumer Duty: One year on’ webinar
At its “Consumer Duty: One year on” webinar, Sheldon Mills, FCA Executive Director of consumers and competition, delivered a speech reflecting on the first year of Consumer Duty. In considering the impact of the Duty to date, the FCA welcomes the improvements…
What is the reality of getting an Appointed Representative application across the line with the FCA?
Many clients request assistance from ICS in getting an application for a new Appointed Representative (AR) over the line. The AR model can be hugely beneficial if it is operated correctly, for applicants who are starting out and not quite ready to be fully…
Outcomes monitoring and Board reporting under the Consumer Duty – the FCA’s Insurance multi-firm review – Part two
The detailed ‘Consumer Duty-specific’ findings in the FCA’s recent report published on its website sets out the key findings from its December 2023 review of larger insurance firms’ approaches to outcomes monitoring under the Consumer Duty (‘the Duty’). For…
Outcomes monitoring and Board reporting under the Consumer Duty – the FCA’s Insurance multi-firm review – Part one
Under the Consumer Duty firms must regularly assess, test, understand and evidence the outcomes their customers are receiving. Without this, it will be impossible for firms to know that they are meeting the requirements set out in the Duty. The FCA…
