Events listed in FCA Handbook
CP23/21: Consumer Credit Product Sales Data Reporting – Performance Data Flow ...
ID 25792
In view of the ongoing consultation (CP23/21) on new data collections with respect to institutions and firms offering consumer lending including mortgages (EventID 23141), the Financial Conduct Authority (FCA) has now released a related performance data flow diagram. Specifically, the diagram sets out the data collection process depending upon the type of credit (running account/fixed sum), the use of the credit (personal/business), collaterals furnished ...
Firms should strengthen anti-fraud systems and must treat victims of fraud better, ...
ID 25690
The Financial Conduct Authority, FCA, has published the findings from a regulatory review of payment service providers as regards their strategies in relation to fraud risk management, particularly in connection with Authorized Push Payment (APP) fraud. Specifically, the FCA examined 12 firms, including account providers, banks, and payment firms, and reviewed their fraud strategies, detection systems, customer experiences, and fairness in dealing with fraud ...
Financial Promotion Annex for Dual Regulated Firms [docx]
ID 25676
In view of the coming into force of the new financial promotion rules under policy statement (PS23/6), the Financial Conduct Authority has issued another new application form for firms that wish to engage in the approval of financial promotions of unauthorized firms. This particular form must be filed by all firms that are dually regulated by the FCA and the Prudential Regulation Authority and ...
Financial Promotion Annex for firms with existing New Authorisation in progress ...
ID 25674
In view of the coming into force of the new financial promotion rules under policy statement (PS23/6), the Financial Conduct Authority has issued a new application form for firms that wish to engage in the approval of financial promotions of unauthorized firms. This particular form must be filed by all firms who wish to add financial promotions to an existing new authorization application (firms ...
Financial Promotions Variation of Permission Notes [docx] Financial Promotions ...
ID 25673
In view of the coming into force of the new financial promotion rules under policy statement (PS23/6), the Financial Conduct Authority has issued various new forms and instructions, including the following: – Variation of Permission (VoP) application – notes (instructions) – Financial Promotions Variation of Permission form – Financial Promotions Spreadsheet Twelve Months [xlsx] The Financial Promotions Variation of Permission form must be filed ...
Guidance for crypto firms to help them comply with marketing rules
ID 25642
Following a corresponding consultation in June this year (EventID 21586), the Financial Conduct Authority (FCA) has now published a new guidance (FG23/3) as regards financial promotions for cryptoassets. The guidance aims to assist firms in developing promotions that are „fair, clear, and not misleading“ and support registered firms approving financial promotions in their evaluation of the appropriateness of such promotions. The guidance thereby addresses ...
Consumer Duty: Not once and done
ID 25614
Mrs. Nisha Arora, Director of Cross Cutting Policy and Strategy at the Financial Conduct Authority (FCA), delivered a speech at Deloitte on November 1, 2023 about the importance of the Consumer Duty in the financial services industry. She thereby shared various stories which illustrate some of the challenges consumers face with financial services. Such challenges lead to a loss of confidence in the financial ...
Dear Chair of the Remuneration Committee letter 2023 [pdf]
ID 25586
Following the issuance of a recent joint policy statement (23/15) issued by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in which the regulators eliminate the cap on variable pay for material risk takers of all supervised firms (EventID 23576), the FCA has now published an open letter addressed at Chairmans of the remuneration committee of supervised firms. **In this letter, ...
FS23/7: Long-Term Asset Funds (LTAFs) – Financial Services Compensation ...
ID 25553
In view of the issuance of policy statement 23/7 (EventID 21802) in which the Financial Conduct Authority (FCA) – among others – sought feedback as to whether or not LTAFs should be kept under the remit of the Financial Services Compensation Scheme (FSCS), the Authority has now published a corresponding feedback statement (FS23/7). In this feedback statement, the FCA outlines the responses it has ...
SUP 16.31 Financial promotion approval reporting SUP 6A.2 Applications relating to ...
ID 25526
In view of the coming into force of the new financial promotion approver gateway on November 6, 2023 (please also see EventID 22984 and EventID 23577 in this context), the Financial Conduct Authority has published several new Handbook provisions which will come into force on same day. These include the following: – SUP 16.31 Financial promotion approval reporting – [SUP 6A.2 Applications relating to ...