FCA Compliance

The Chancellor of the Exchequer, Jeremy Hunt, has urged the FCA to reconsider its plan to name firms under investigation at an earlier stage- a rare instance of political pressure being placed upon the regulator, which operates independently.

ABI reports annual rise of 33% in cost of comprehensive motor cover in the first quarter of 2024 but suggest a modest 1% increase on the previous quarter indicates that rises are easing.

Firms should review communications and claims made regarding sustainability characteristics of products and services to ensuring they are clear, fair, not misleading and can be robustly substantiated ahead of the FCA’s new anti-greenwashing rule coming into force on 31 May 2024.

ABI publish Premium Finance Principles to demonstrate members' commitment to managing costs for customers paying monthly for motor insurance- ditching previous plan to introduce voluntary, industry-led premium cap.

The FCA has commenced its review into firms’ treatment of customers in vulnerable circumstances by writing to selected firms asking them to take part in a survey.

Which? has called on the FCA to take action to protect consumers after it revealed those paying monthly for car insurance are being charged annual percentage rates (APRs) of up to 40%.

BIBA has again urged the Government to revise its position on Insurance Premium Tax (IPT) following the release of another record annual UK provisional tax receipt figure. 

The FCA have released a statement warning motor finance companies to ensure they reserve money for potential pay-outs, as it continues its probe into discretionary commission arrangements (DCA).

The FCA has published the findings from its latest Financial Lives cost of living re-contact survey.

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