New Consumer Duty could improve financial inclusion The Financial Conduct Authority has published a speech by its executive director for consumers and competition, Sheldon Mills, on rising costs and improving financial inclusion for consumers. Mills said the FCA wanted to see consumer journeys for new and existing customers that are clear, transparent, and accessible, including …
The Financial Conduct Authority (FCA) has published its latest policy development update, current as of 4 October 2019. The policy development update provides some information on the FCA’s recent and upcoming publications, but should not be regarded as comprehensive. The update notes that the following publications were issued recently: CP19/27: Quarterly Consultation Paper No 25 Handbook …
FCA latest October 2019 policy development update Read More »
The Financial Conduct Authority (FCA) has fined the Prudential Assurance Company Limited (Prudential) £23,875,000 for failures related to non-advised sales of annuities. Between July 2008 and September 2017, Prudential’s non-advised annuity business focused on selling annuities directly to existing Prudential pension holders. Firms are required to explain to customers that they may get a better …
FCA fines Prudential £24m for failures related to non-advised sales of annuities Read More »
The Financial Conduct Authority (FCA) has issued a guidance consultation (GC19/4) on changes that it proposes to make to the Knowledge Base, its repository of non-handbook commentary that has the status of formal FCA guidance. The FCA proposes to amend its existing technical note on master-feeder structures (FCA/TN/409.1) and add a new technical note on …
The Financial Conduct Authority (FCA) has published policy statement PS19/25: Overdraft pricing and competition remedies. This follows the FCA’s publication of the Overdraft pricing policy statement (PS19/16), which made rule changes to the way banks and building societies charge for overdrafts; the FCA’s consultation paper CP19/18, which set out the FCA’s proposals on further rules relating …
FCA publishes PS19/25: Overdraft pricing and competition remedies Read More »
The Investing and Saving Alliance (TISA) working group on the Senior Manager & Certification Regime (SM&CR) has published a guide for solo-regulated firms in advance of the SM&CR extension. TISA does not consider that industry is ready to take the SM&CR into business as usual (BAU) and has therefore published the guide entitled ‘Don’t let …
TISA publishes new SM&CR guide for FCA solo-regulated firms Read More »
