The FCA has published Guidance clarifying its expectations of firms and ‘finfluencers’ promoting financial services across all social media channels, including memes, reels and gaming streams.
FCA Compliance
Remaining Gap Providers Told to Pause Sales of Product by FCA
The FCA has told remaining providers of guaranteed asset protection (Gap) insurance to pause sales of the product.
FCA to review how firms treat customers in vulnerable circumstances
The FCA has announced that it will conduct a review into the action firms are taking to understand and respond to the needs of customers in vulnerable circumstances. It will share its findings by the end of 2024.
FCA Publishes Findings of Consumer Duty Firm Survey
In Autumn 2023, the FCA conducted a survey of 634 firms to assess how smaller firms had implemented the Consumer Duty and whether these firms had altered their consumer contracts and financial promotions.
Sexism in the City Report Paints Bleak Picture of Culture and Lack of Progress in Financial Services Sector
The highly anticipated Treasury Select Committee's Sexism in the City Report, released on 8th March, paints a damning picture of sexism in the UK financial services industry and highlights the stark lack of progress made.
Diversity and Inclusion in the Financial Sector – Expectations for ‘Small Firms’
Diversity and inclusion are central to firms’ roles as businesses and employers. The regulators have been taking increasing steps to enhance diversity and inclusion within the financial sector. What can small businesses do to improve measures for diversity and inclusion?
FCA Publishes Resources and Consultation as it Proposes New Approach to Publicising Enforcement Investigations
The FCA is set to alter its approach to publicising enforcement investigations, proposing to publish the identity of subjects under investigation, publish an increased amount of information and updates regarding cases at an earlier stage, and increase the pace of cases and release of announcements that cases have closed without action.
ABI Publishes Action Plan to Combat Rising Motor Premiums
The Association of British Insurers (ABI) has published a 10-point roadmap aimed at tackling the rise in motor insurance premiums.
Key Takeaways from FCA Speech & Good/Bad Practice Report
A speech delivered by Sheldon Mills, FCA Director, Consumers and Competition, and the FCA’s recently published report on good and bad practice, highlights challenges and areas needing improvement for firms implementing the Consumer Duty.