As part of ‘reducing the regulatory burden’, and as outlined in its letter to the Prime Minister in January this year, the FCA has outlined the first steps in its plans to review Handbook provisions.
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Enforcement transparency & DEI proposals shelved by UK financial services regulators
The FCA and PRA have announced proposed rules to improve diversity and inclusion in firms will be axed, whilst the FCA issued a further update confirming plans to increase the transparency of enforcement investigations are to be dropped.
FCA encourages vulnerable customers to open up to firms to get the right support
The FCA has called on vulnerable customers to open up to firms about their needs so they can receive appropriate support after research commissioned by the regulator revealed only 4 in 10 vulnerable customers disclosed their needs to their financial services provider.
Insurance Compliance Services Ltd is ‘Walking for Water’
The team at Insurance Compliance Services, part of UKGI Group, have pledged to walk five kilometres or more a day for the month of March in aid of WaterAid’s Stand with Women project.
The FCA's approach to Financial Crime: Key considerations for firms
In November 2024, the FCA published a Policy Statement introducing changes to its Financial Crime Guide. It also published Handbook Notice 124, which sets out specific sections in the Guide which were updated. In this article, UKGI Compliance’s Alastair Haughton sets out the changes to the Guide, what they relate to, and key considerations for firms.
LIIBA launches 2025 Agenda
The London & International Insurance Brokers’ Association has announced the publication of its 2025 Agenda, titled “Restating the value of broking”, and announced a “ground-breaking project to quantify the monetary value of London’s brokers to the global economy”, known informally as the Brokers Matter project.
Exploring the FCA’s review of firms’ approach to Consumer Duty complaints & root cause analysis
This article explores the FCA’s ‘good practice and areas for improvement’ findings following its review into firms’ approaches to complaints and root cause analysis.
Mansion House Speech: Key takeaways for the Insurance Sector
The Chancellor’s first Mansion House speech on 14 November emphasised that for the Government to achieve their aim of secure and sustainable economic growth, the financial services sector must drive competitiveness and growth.
Distributing Fair Value Insurance Products
Following the recent FCA Thematic Review which heavily criticised the industry for failing to adequately take on board the demonstration of fair value, this article explores steps that distributors can take to ensure that they evidence their approach.