Regulatory Updates

FCA announces a review of firms’ treatment of customers in vulnerable circumstances

26 Mar 2024 - In The News

The FCA has announced its intention to conduct a review into how firms are acting to understand and respond to the needs of customers in vulnerable circumstances. The FCA intends to share its findings by the end of 2024, in line with its 2021 commitment. The…

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Sexism in the City report and implications for the FCA's Consultation on DE&I

20 Mar 2024 - Regulatory Updates

In the autumn of 2023 the FCA produced a Consultation Paper (CP23/20) which outlined its proposals to improve diversity, equality and inclusion in the financial services sector; the PRA produced a similar consultation. In July 2023 the Treasury Committee…

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Financial Ombudsman Service sets out its updated maximum award limit

19 Mar 2024 - In The News

The Financial Ombudsman Service (FOS) has announced that the FCA has confirmed the increase to the FOS award limit for the coming financial year. The award limit is the maximum amount FOS can require a financial business to pay when it upholds complaints.…

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CII data shows DE&I practices have a positive impact on businesses

19 Mar 2024 - In The News

Data from the Chartered Insurance Institute’s 2023 Corporate Chartered Equality, Diversity & Inclusion survey indicates positive business outcomes for firms implementing EDI (DE&I) practices and policies The survey builds on initial research on the adoption…

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FCA to review how firms treat customers in vulnerable circumstances

19 Mar 2024 - In The News

The FCA has announced that it will conduct a review into the action firms are taking to understand and respond to the needs of customers in vulnerable circumstances. It will share its findings by the end of 2024.

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FCA publishes insights and writes to certain firms about anti-money laundering failings

11 Mar 2024 - In The News

The FCA has written a Dear CEO letter to certain firms (‘Annex 1 firms’ – which are firms carrying on the activities noted on page 88 of 99 in this document), which are subject to the Money Laundering Regulations (the MLRs). The Dear CEO letter relates to…

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