FCA Compliance

To mark Pride Month 2024, this article explores how the financial services sector can take meaningful steps to cultivate inclusive, safe, and supportive workplaces, and the importance of doing so for both employees and the customers they serve within the LGBTQ+ community.

This article explores how firms can build operational resilience, why it is important, and how it aligns with other regulatory and ethical obligations.

Ten years ago, in May 2014, the FCA published the findings from its thematic review which shed light on inherent conflicts of interest within the business models of many general insurance intermediaries. Conflicts of interest remain a key concern for the regulator; this article outlines how intermediaries can ensure compliance with regulation and treat customers fairly.

A study conducted by Which? found distress and inconvenience to consumers were recorded in nearly two-thirds of complaints upheld by the Financial Ombudsman Service in 2023, with delays at a five-year high.

Nikki Bennett delivered an insightful speech at this year's Association of Medical Insurers and Intermediaries summit, speaking about Consumer Duty and the importance of supporting vulnerable customers.

The FCA recently published a blog written by Joanna Legg, FCA Head of Consumer Policy & Outcomes, calling for more collaboration across the financial services sector in improving the outcomes of victims of domestic and financial abuse. This article looks at the ways in which the insurance industry could play an important part in detecting abuse, providing support to victims, and securing better consumer outcomes.  

Amidst increased scrutiny surrounding how firms within the financial services deal with non-financial misconduct, this article explores how firms can reasonably ensure policies and procedures comply with SM&CR and demonstrate a culture of transparency, accountability, and integrity.

In April 2024, the FCA published its findings arising from their review of Appointed Representatives (ARs) and Introducer Appointed Representatives (IARs) who undertake Credit Broking. The findings highlight both good and bad practices of Principal firms in relation to the appointment, monitoring, and termination of AR relationships.

In her speech at the 2024 BIBA Conference, Emily Shepperd, FCA Chief Operating Officer, urged brokers to take the lead in demonstrating their value to customers and the wider financial ecosystem.