Regulatory Updates

For individuals to contribute successfully to an organisation, it is essential that they understand their role and the responsibilities it entails. Having this understanding will allow them (and you) to be able to judge whether they are competent to perform…

The FCA recently published Guidance clarifying its expectations of firms and ‘finfluencers’ promoting financial services across all social media channels, including memes, reels and gaming streams. Finfluencers are influencers who offer advice and…

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…

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…

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.

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…