The Financial Conduct Authority has published new rules governing claims management companies’ advertising.
The regulator wants CMCs to do more to ensure their promotions do not mislead potential customers. On 23 August, announced a number of new rules in relation to financial promotions.
Increased regulation in the aftermath of the financial crash of 2008 has led to the global banking industry placing the burden of compliance on their heavy shoulders. A decade later, the wave of new regulations is still advancing, creating the need for compliance and adaptation to the strategic con..
At the end of last month, the Financial Conduct Authority published a report of the findings from its 2019 survey of FCA-regulated firms. The survey, carried out with the Practitioner Panel, takes place annually and seeks views on the regulator’s performance from among the firms it regulates.
Last week (7 August), new FCA rules on clarity and benchmarks for fund managers came into force. The new rules are part of the regulator’s response to its Asset Management Market Study.
Here, we look at what fund managers need to do now, and how you can make sure you comply with the new rules.
The Financial Conduct Authority and the Competition and Markets Authority will work together to ensure effective competition for consumers using claim management companies.
This week, the co-operation agreement between the two regulators was updated ‘to reflect the FCA’s new concurrent competition j..
This week (30 July) the Financial Conduct Authority published a package of proposals on pension transfer advice.
The proposals aim to help consumers achieve better value from their pensions and to improve the quality of pension transfer advice.
Among the issues covered is the question of what consti..
On 23 July, the financial regulator launched a consultation on proposed guidance for firms on the fair treatment of vulnerable customers.
Launching the consultation, the FCA said that although ‘significant progress’ has been made in firms’ approaches to vulnerable customers, more consistency is nee..
Today (26 July) the Financial Conduct Authority has published its final rules on the Senior Managers and Certification Regime (SM&CR).
The rules, published on the regulator’s website are the final regulations on the extension of the SM&CR to FCA solo-regulated firms, including claims management com..
The money raised from Financial Conduct Authority fines continues to grow. A Guardian article earlier this month reported that the regulator’s fines have ‘ballooned’ to £320m in the last six months of reported figures.
Why are fines increasing – and what happens to the money the FCA collects?
The Financial Conduct Authority announced this week that is has started work to improve the way it collects data from firms.
It plans to introduce a new platform as part of this work. The new platform will replace Gabriel, the regulator’s main regulatory data collection system.
There’s a lot of talk about automation in compliance.
Automation of reporting, automation of marketing and financial promotions production, automation of approvals.
But what are the real benefits of automation for Compliance teams? Can automating your processes really deliver the efficiencies and co..
2018/19 saw the FCA receive a record number of reports to its unauthorised business department about potential unauthorised activity.
This is according to the regulator’s latest enforcement annual performance report, released this week.
What is driving this increase, and how can firms ensure their o..
On 25 May, it was a year since the General Data Protection Regulation came into force.
When it came into effect, GDPR was anticipated to change marketing compliance dramatically.
But in year since its introduction, how has GDPR really impacted your financial promotions? What’s different for financia..
This week the Financial Conduct Authority published its first ‘Perimeter Report’. What is it all about, and why does it matter to Compliance teams?
It is the term used for the boundary between what the FCA does and does not regulate. The perimeter determines which firms re..
This week, the Financial Conduct Authority issued a response to the CMA’s update on the Citizens Advice super-complaint about customer loyalty pricing.
What was the complaint about, and what have the CMA and the regulator said in their updates?