When considering the FCA’s enforcement of Consumer Duty, it could be likened to a school teacher attempting to discipline a class. The FCA so far is attempting to retain the authority akin to a headmaster with an iron fist, rather than a flailing substitute teacher with a “kick me” sign attached to their back. Whether … Continue Reading
With a new Consumer Principle, clarified outcomes and phased implementation, the FCA released the final rules and guidance on a new Consumer Duty at the end of July: one of the biggest changes in the retail consumer regulatory landscape in recent years.… Continue Reading
Since 9 December 2019, the majority of FCA solo-regulated firms have been subject to the Senior Managers and Certification Regime (SM&CR) including the Conduct Rules which set basic standards of good personal conduct against which the FCA can hold people to account. As such, the rules are enforceable by the FCA and are intended ‘to … Continue Reading
On 18 March, The FCA published the transcript to their recent podcast on cyber resilience and security for firms. With more and more financial services moving online, such as online banking, being cyber resilient is becoming increasingly important. With FCA sandbox initiatives for new technology and joint initiatives between the FCA and the ICO it … Continue Reading
Many investment funds domiciled in the EU are currently marketed in the UK through the EU’s passporting regime. Shortly after the end of the Brexit transition period of 31 December 2020, and the end of the UK’s temporary regime to permit marketing, this will change and funds will have to gain permanent market access in … Continue Reading
