Events listed in FCA Handbook
Market Watch 73
ID 22998
The Financial Conduct Authority (FCA) has published a new edition of its Market Watch (No. 73). This latest version primarily deals with the findings from the FCA’s recent peer review of firms „that offer Contracts for Difference (CFDs) and spread bets (CFD providers)“ in relation to (potential) market abuse and market abuse mitigation. As CFD trading and spread bets are prone for potential market ...
Consumer Duty webinar – Payments and e-money [pdf]
ID 22992
On April 26, 2023, the Financial Conduct Authority (FCA) published the transcript of a webinar for payments service providers and e-money businesses relating to the new consumer duty. Specifically, the webinar clarifies and covers – who the new duty applies to; – how the duty applies to payments firms; – what products and services are in-scope of the new duty; – which outcomes payment ...
British Steel Pension Scheme: Calculator user guide [pdf] British Steel Pension ...
ID 22918
The Financial Conduct Authority, FCA, has published two documents in connection with the new redress scheme for customers that were wrongfully or poorly advised to transfer out of the British Steel Pension Scheme (BSPS) following the financial difficulties of the scheme’s sponsor in 2016 and the subsequent restructuring in 2017 and 2018. Specifically, the FCA has issued the 1. BSPS calculator user guide which ...
Evaluation Paper 23/1: An evaluation of our 2019 overdrafts intervention
ID 22866
Three and a half years after the implementation of final rules regarding the general pricing of overdrafts and regarding strategies on repeat use overdrafts, the Financial Conduct Authority (FCA) has published an evaluation paper (EP23-1) examining and presenting the effects of the final rules on overdraft prices. To recall, the – back then – new rules – prohibit the charging of higher prices for ...
Overdraft repeat use: good practice and areas of concern
ID 22861
Following the review of overdraft strategies of financial institutions and payment service providers earlier this year, the Financial Conduct Authority, FCA, has published some good practice and areas of concern as regards such strategies. To recall, the FCA’s policy statement (PS19/16) requires such firms to identify customers with a frequent use of overdrafts and develop a strategy to help these customers to reduce their ...
Implementing the Consumer Duty in the Contract for Difference (CFD) portfolio [pdf]
ID 22708
The Financial Conduct Authority, FCA, has published an open Dear CEO Letter addressed at firms who engage in the provision of contracts for difference (CFDs), in spread bets, or in „rolling spot“ foreign exchange as regards the upcoming new consumer duty. Among other things, the letter – reminds firms of the implementation timeline of the new duty, – summarizes the key pillars of the ...
CP23/7: Regulatory fees and levies: policy proposals for 2023/24
ID 22678
The Financial Conduct Authority (FCA) has launched a public consultation (CP23/7) on FCA general, periodic, and application fees rates for the next financial year (2023/24). Specifically, the Authority is consulting on 1. the general fee rates applicable to firms both authorized by the FCA and others (i.e. market infrastructures) based on the annual funding requirement (AFR) set out in the FCA’s latest Business plan ...
Handbook Notice 108 [pdf]
ID 22622
The Financial Conduct Authority (FCA) has published Handbook Notice 108 to summarize the latest amendments to its Handbook in accordance with the following Consultations and FCA Instruments: Figure 1 – Oversight Table ##### FCA 2023/10, CP22/26, no PS, EventID #18578 This instrument was issued on March 31, 2023 and comes into force on July 31, 2023 following a corresponding consultation in December ...
FOS 2023/1: Fees Manual (Financial Ombudsman Service Case Fees 2023/2024) ...
ID 22601
The Financial Conduct Authority, FCA, has published a new instrument (FOS 2023/1) entitled Fees Manual (Financial Ombudsman Service Case Fees 2023/2024) Instrument 2023. The instrument implements the fees and levies of the „Financial Ombudsman Service (FOS)“ as they apply to all financial market participants in the FCA’s financial year 2023/2024. According to the instrument, there is a de facto reduction in the voluntary jurisdiction ...
CONRED 4 Annex 16 Final reminder to accept offer
ID 22600
Following the finalization of the new redress scheme in connection with the provision of (inadequate) advice to transfer out of the „British Steel Pension Scheme (BSPS)“ between 2016 and 2018 (please see EventID 18571 and / or PS22/14 in this context), the Financial Conduct Authority (FCA) has updated one Handbook provision as regards the „Final reminder to accept an offer“. Specifically, the Authority has ...