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.
Consumer Duty
The FCA Business Plan 2024/25 and Supporting Information
The FCA has set out a programme of work for the final year of its 3-year strategy. The planned programme of work builds on progress made over recent years to become a “more outcomes-based, assertive and data-led regulator”.
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?
Crackdown on financial adverts and promotions as thousands withdrawn or amended following FCA intervention
As the FCA continue to express concern over financial promotions and communications and closely monitor material, firms should ensure that they comply with regulations, notably the Consumer Duty, during marketing and communication activities.
FCA Responds to its Independent Panels’ Annual Reports
The FCA consults on its work with six independent statutory panels, which are integral to developing FCA policies and other regulatory decisions. Statutory panels represent the interests of consumers and practitioners, including smaller regulated firms and financial market participants. In responding to the annual reports of these six panels, the FCA has addressed some general themes.
FCA Publishes Consumer Duty Webinar and Transcript
The FCA has published a recording and transcript of its December 2023 webinar on the next steps for the Consumer Duty.
FCA Celebrates Biggest 2023 Achievements
The FCA has highlighted its biggest milestones and achievements over the last 12 months, including its introduction of the Consumer Duty.
Breaking Down Barriers – Increasing Consumer’s Access to Financial Services
The FCA has recently proposed new rules to maintain reasonable access to cash for personal and business customers across the UK. This article looks at how firms can mitigate barriers that may prevent consumers from pursuing their financial objectives.
Consumer Duty: Not a “Once and Done” Exercise
The FCA's Director of Cross-Cutting Policy and Strategy recently gave a speech marking three months since the Duty came into force and has stressed that the Duty is not something where firms can simply “tick the box” and move on.