Events listed in [FCA] Financial Conduct Authority
Implementing the Consumer Duty in Mainstream Consumer Credit Lenders (MCCL) [pdf]
ID 21720
The Financial Conduct Authority, FCA, has published an open „Dear CEO Letter“ addressed at firms engaged in consumer credit lending or so-called „Mainstream Consumer Credit Lenders (MCCLs)“, 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 ...
Implementing the Consumer Duty in Life Insurance [pdf]
ID 21719
The Financial Conduct Authority, FCA, has published an open Dear CEO Letter addressed at life insurance undertakings and „their FCA-regulated outsourced service providers (OSPs)“ as regards the upcoming new consumer duty. Among other things, the letter thereby – reminds firms of the implementation timeline of the new duty, – summarizes the key pillars of the duty, – outlines how these pillars apply towards such ...
Implementing the Consumer Duty in Credit Reference Agencies (CRAs) and Credit ...
ID 21715
The Financial Conduct Authority, FCA, has published an open „Dear CEO Letter“ addressed at credit reference agencies (CRAs) and credit information service providers (CISPs) 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, ...
Implementing the Consumer Duty in the Mortgage Lenders and Administrators sector ...
ID 21713
The Financial Conduct Authority, FCA, has published an open „Dear CEO Letter“ addressed at firms engaged in mortgage administration and lending 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 apply ...
Non-legal changes
ID 21692
The Financial Conduct Authority (FCA) has published a new document on changes it has recently made to its Handbook which are NOT outlined in any corresponding instrument. The modifications are technical in nature, including corrections and adjustments primarily for clarification, correction, and regulatory alignment purposes. In this particular case, the following FCA Sourcebooks are concerned and were modified: (1) DISP Dispute Resolution: Complaints, particularly ...
List of non-legal corrections and clarifications in the FCA Handbook
ID 21677
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 Sourcebook is concerned and ...
CONRED 4 Annex 20 BSPS DBAAT CONRED 4 Annex 16 Final reminder to accept offer
ID 21673
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 published two corresponding final Rule Book provisions applying from February 28, 2023: 1. [CONRED 4 Annex 20 ...
CP23/4: Value for Money: A framework on metrics, standards, and disclosures
ID 21633
The Department for Work and Pensions (DWP), the Financial Conduct Authority (FCA), and The Pensions Regulator (TPR) have jointly launched a consultation on a proposed new framework for the assessment of Value for Money (VFM) across defined contribution pension schemes (DCPS). The framework would build upon the following three pillars: 1. the assessment of investment performance; 2. the assessment of costs and charges incurred ...
Handbook Notice 106 [pdf]
ID 21613
The Financial Conduct Authority (FCA) has published Handbook Notice 106 to summarize the latest amendments to its Handbook in accordance with the following Consultations and FCA Instruments: Figure 1 – Oversight Table ##### FCA 2023/1, CP22/22, PS23/1, EventID #19355 This Instrument in connection with the extension of the temporary asset retention measures that applied / apply to firms involved in potential wrongful ...
PS23/1: Extended asset retention requirement for firms under the British Steel ...
ID 21612
Following a consultation (CP22/22) in November 2022 to extend the temporary asset retention measures that applied / apply to firms involved in potential wrongful pension scheme member advice to keep them from disposing any assets prior to meeting their clients‘ redress claims, the FCA has now published a corresponding policy statement (PS23/1). Therein, the Authority briefly describes the feedback it has received to its ...