Events listed in [FCA] Financial Conduct Authority
Inside FCA Podcast: Explaining the Consumer Duty consumer understanding outcome ...
ID 21610
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 Head of Consumer Policy Outcomes, Mr. Richard Wilson, concerning the „consumer understanding outcome“ of the new duty which relates to the objective of providing consumers with sufficient information about the products and services they receive ...
FCA 2023/2: Senior Managers and Certification Regime (Significant SYSC Firm) ...
ID 21607
The Financial Conduct Authority, FCA, has published a new instrument (FCA 2023/2) entitled Senior Managers and Certification Regime (Significant SYSC Firm) Instrument 2023. The instrument follows a corresponding consultation (CP22/17) earlier this year to clarify the application of the enhanced Senior Managers & Certification Regime (SM&CR) towards specified firms. Specifically, the instrument modifies the „Senior Management Arrangements, Systems and Controls ...
FCA 2023/1: British Steel Pension Scheme (Financial Resilience) (No 2) Instrument ...
ID 21606
Following the publication of a final policy statement (PS23-1) to extent the asset retention requirements of firms affected by the „British Steel Pension Scheme consumer redress scheme“ (please see Event ID 19355 in this context for a detailed description of the requirements), the Financial Conduct Authority, FCA, has now published the corresponding [regulatory instrument (FCA 2023/1: British Steel Pension Scheme (Financial Resilience) (No 2) ...
Dear CEO letter: British Steel Pension Scheme (BSPS) – third party information ...
ID 21605
Following the announcement of the new redress scheme for customers that have been wrongfully advised with respect to the „British Steel Pension Scheme (BSPS)“, the Financial Conduct Authority (FCA) has now published a Dear CEO Letter primarily addressed at firms currently managing transferred assets of affected customers or that have received proceeds in this context. Therein, the FCA briefly describes that it expects those ...
Consumer redress scheme for unsuitable advice to transfer out of the British Steel ...
ID 21594
The Financial Conduct Authority, FCA, has published an addendum to its policy statement (PS22/14) specifying a new consumer redress scheme in connection with the provision of (inadequate) advice to transfer out of the „British Steel Pension Scheme“ between 2016 and 2018. The addendum simply corrects an error in Chapter 6, page 77 of the document pertaining to the cost-benefit analysis provided by the FCA ...
British Steel pension scheme misleading redress offers
ID 21593
The Financial Conduct Authority, FCA, has published a 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 received complaints about advisory firms that have made ...
Memorandum of Understanding concerning the recognition of UK benchmark ...
ID 21578
The Financial Conduct Authority, FCA, has published a new Memorandum of Understanding (MoU) concluded between the Authority itself and the European Securities and Markets Authority (ESMA) as regards the supervision of UK benchmark administrators operating within the boundaries of the EU. This MoU is necessary following the UK’s exit from the European Union and the subsequent designation of UK benchmark administrators as third country ...
FCA highlights areas of focus for firms implementing the Consumer Duty
ID 21577
Following the review of the implementation plans as regards the new consumer duty of „larger fixed firms“ with dedicated FCA supervisory teams (please see EventID 19277 in this context), the Financial Conduct Authority, FCA, has published another press statement in this context. Therein, the Authority highlights the key issues firms should focus on in the remaining six months before the consumer duty comes into ...
Consumer Duty implementation plans
ID 21570
The Financial Conduct Authority, FCA, has published a press statement to present the key findings from a review of the implementation plans as regards the new consumer duty of „larger fixed firms“ with dedicated FCA supervisory teams. The purpose of the publication is to help firms understand the FCA’s expectations in this context and to „implement the Duty more effectively“. The key findings are ...
Memorandum of Understanding concerning EU critical benchmarks between ESMA and the ...
ID 21568
The Financial Conduct Authority, FCA, has published a new Memorandum of Understanding (MoU) concluded between the Authority itself and the European Securities and Markets Authority (ESMA) as regards the exchange of information in connection with EU-designated critical benchmarks pursuant to Article 20 of the Retained Benchmark Regulation (UK BMR). Specifically, the parties agree to (1) exchange information on EU-designated critical benchmarks whose administrators are ...