Events listed in [FCA] Financial Conduct Authority
FCA 2023/46: Insurance: Conduct of Business Sourcebook (Employers’ Liability ...
ID 26293
The Financial Conduct Authority (FCA) has published a new legal instrument (FCA 2023/46) to transpose the regulatory changes consulted on in the FCA’s quarterly consultation (CP23/18) as regards changes to employers‘ liability insurance rules – please note that a corresponding policy statement has not been published by the FCA at the time this instrument was issued. Specifically, the new instrument modifies the Insurance Conduct ...
Loan fee fraud partnership toolkit 2023 [zip]
ID 26286
The Financial Conduct Authority (FCA) has published a new „toolkit“ concerning its new campaign to inform of and raise customer awareness about so-called loan fee fraud. As with all toolkits published by the Authority, the material contained in this presentation may be used by „partner firms“ – that is firms supervised by the FCA and operating in this line of business – on their ...
Retail banking Consumer Duty multi-firm work
ID 26254
The Financial Conduct Authority (FCA) has published the findings from a review of the implementation of the Consumer Duty among retail banks, which became effective in July 2023. The review was conducted among 47 institutions to ascertain that customers are served the best way possible in alignment with the high product, price, and quality standards of the Duty. The FCA thereby – reviewed how ...
FCA welcomes the launch of industry code of conduct for ESG ratings and data ...
ID 26246
On December 14, 2023, the Financial Conduct Authority (FCA) published a press statement in which it informs of and strongly welcomes the publication of a new voluntary Code of Conduct for ESG Ratings and Data Products Providers which was developed by the International Capital Market Association (ICMA) and the International Regulatory Strategy Group upon request by the FCA. The code is meant to set ...
Identifying controllers – example structure chart [pdf]
ID 26237
In an effort to ensure that FCA-regulated financial services firms are well-managed and operate with integrity, the Financial Conduct Authority (FCA) requires notification when there’s a change in control, such as a change in ownership, acquisition of a significant number of shares, or changes in key personnel that could affect the management or decision-making of a firm. This notification obligation helps the FCA assess ...
FCA writes to firms about the treatment of retained interest on customers’ cash ...
ID 26220
The FCA has investigated 42 firms on their practices in dealing with earned interest on customers‘ cash balances, as these have risen in the last 18-24 months with the rise of the interest rates. Most of these investment platforms and SIPP operators retain part of the earned interest and additionally charge a fee for the cash, which is a practice called „double dipping“. Customers ...
List of market makers and authorised primary dealers [pdf]
ID 26208
The Financial Conduct Authority (FCA) has published an updated list of UK authorized market makers and primary dealers pursuant to Article 17(13) of the retained EU Short Selling Regulation (UK SSR) which are exempt from short selling prohibitions in accordance with paragraph 1 or 3 of same regulation. The list is updated following a new notification; however, the FCA has the right to disallow ...
Engagement feedback on the new public offers and admissions to trading regime
ID 26204
The Financial Conduct Authority (FCA) has issued an „Engagement feedback paper“ which outlines the responses the Authority has received to a number of so-called „engagement papers“ it published earlier this year to collect views on aspects to be considered in the design of a new public offers and admissions to trading regime. — ##### Background To recall, in May and July 2023, the FCA ...
DP23/5: Advice Guidance Boundary Review – proposals for closing the advice gap
ID 26169
The HM Treasury and the Financial Conduct Authority, FCA, have jointly launched a discussion paper (DP23/5) in relation to the Advice Guidance Boundary Review (AGBR) to bridge the advice gap and make financial advice more accessible to retail customers. The advice gap results either from – consumers NOT having the information they need at the time when they need it to make informed financial ...
Preparing for the future of Consumer Investments
ID 26161
The Financial Conduct Authority (FCA) has published a statement in which it outlines its approach to the „future of consumer investments“, that is it’s approach to any future rules and regulations to enhance the safeguards, information, accessibility, and experience in relation to retail investments. The FCA thereby points out five primary areas of focus which are briefly described below: ##### *Areas of focus in ...