Events listed in FCA Handbook
Implementing the Consumer Duty in Mortgage Intermediaries [pdf]
ID 22130
The Financial Conduct Authority, FCA, has published an open „Dear CEO Letter“ addressed at firms functioning as mortgage intermediaries to provide mortgages to both private and corporate customers 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 duty, – outlines how these pillars ...
BSPS DBAAT Template [xlsx] BSPS DBAAT Instructions [pdf] DBAAT and redress ...
ID 22055
The Financial Conduct Authority, FCA, has published several 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 documents are aimed at and shall be used by persons ...
Handbook Notice 107 [pdf]
ID 22020
The Financial Conduct Authority (FCA) has published Handbook Notice 107 to summarize the latest amendments to its Handbook in accordance with the following Consultations and FCA Instruments: Figure 1 – Oversight Table ##### FCA 2023/3, CP21/31, PS23/2, EventID #19865 This Instrument was issued as part of Policy Statement 2023/2 by the FCA on February 24, 2023 to be effective on September 30, ...
List of non-legal corrections and clarifications in the FCA Handbook
ID 21999
The Financial Conduct Authority (FCA) has published another document on changes it has recently made to its Handbook which were NOT outlined in any corresponding instrument. The modifications are technical in nature, including corrections and adjustments primarily for clarification, correction, and regulatory alignment purposes. They do NOT alter current regulations and policies contentwise. In this particular case, the following FCA Sourcebooks are concerned and ...
Implementing the Consumer Duty in payments firms [pdf]
ID 21966
The Financial Conduct Authority, FCA, has published an open „Dear CEO Letter“ addressed at payment service providers and e-money institutions 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 duty, – outlines how these pillars apply towards such firms, – provides feedback from ...
Inside FCA Podcast: What the Consumer Duty means for authorisation [pdf]
ID 21959
The Financial Conduct Authority (FCA) has published the transcript of another podcast relating to the new consumer duty. Specifically, this time the transcript includes an interview with the FCA’s Technical Team member Alex MacDermott discussing „what the introduction of the Consumer Duty means for firms seeking authorisations?“ Alex MacDermott thereby describes, among other things, – the additional information firms will have to provide in ...
FCA seeks views on updating asset management regulation
ID 21949
The Financial Conduct Authority, FCA, has published a discussion paper (DP23/2) seeking views from the asset management industry on possible ways to – improve, streamline, and / or standardize the current asset management regulatory regime; – modernize the framework and make it fit for the future; and – align the framework with international standards. The discussion paper is thereby guided by some overarching principles ...
DP23/1: Finance for positive sustainable change
ID 21846
The Financial Conduct Authority, FCA, has issued a Discussion Paper (DP23/1) entitled „Finance for positive sustainable change: governance, incentives and competence in regulated firms“. The discussion paper is addressed at a wide range of financial market participants, including asset management firms, banks, building societies, and insurance undertakings and is high-level in nature in that it does not propose any regulatory measures or changes. On ...
Inside FCA Podcast: What does the Consumer Duty consumer support outcome mean?
ID 21761
The Financial Conduct Authority (FCA) has published the transcript of another podcast relating to the new consumer duty. Specifically, this time the transcript includes an interview with the FCA’s Policy Team member Sean Cafferky concerning the „consumer support outcome“ of the new duty which relates to the objective of providing consumers with an adequate level of support throughout their engagement with a firm, service, ...
British steel pension scheme misleading offers – update
ID 21760
The Financial Conduct Authority, FCA, has published a follow-up statement 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 now found that 15 firms have made ...