Regulatory Updates

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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Consumer Duty – a Panel and Q&A session with the FCA

26 Feb 2024 - Regulatory Updates

Although the FCA has now published Sheldon Mills’ recent speech, delivered at a KPMG Consumer Duty event, there was also a panel session with Mills and KPMG, as well as a Q&A session. Much of the speech focussed on the forthcoming 31st July Consumer Duty…

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FCA questions banks and the wholesale insurance sector about the handling of non-financial misconduct

12 Feb 2024 - Regulatory Updates

Banks and the wholesale insurance sector should prepare to receive a survey from the FCA requesting data on non-financial misconduct as the regulator begins its investigation into how incidents are detected and handled in the financial services sector.

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The importance of Training and Competence schemes in the insurance sector – a focus on 2024

26 Jan 2024 - Regulatory Updates

As the financial landscape evolves, firms’ Training and Competence (T&C) schemes also need to evolve to remain robust and to align with the principles of the FCA’s Consumer Duty. The FCA will likely expect insurance distributors to include a focus on the…

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Client money and client money audits – an auditor’s view

10 Oct 2023 - Regulatory Updates

A number of ICS staff recently attended a client money webinar held by the Institute of Chartered Accountants of England and Wales (ICAEW). Here we share the key messages from the webinar and some insights on the issues arising out of client money audits.

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How Hard do we try to be Inclusive?

1 Sept 2023 - Regulatory Updates

September 2023 has been a busy month for the diversity, equality and inclusion discussion. We have seen the publication of the long awaited FCA consultation paper CP23/20 Diversity and inclusion in the financial sector – working together to drive change

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