FCA answers Call of Consumer Duty
The Financial Conduct Authority is updating its Consumer Duty approach to balance consumer protection with reducing compliance burdens on firms. It aims to clarify expectations, support innovation, and ensure fair outcomes.
The Conduct Chronicles – ‘Lessons from the Farage Bank Account Furore’
Emma Parry reviews the Farage bank closure as a signal for banks to ensure they have proper data retention tools in place, clear rationales and compliance with Consumer Duty obligations to ensure they are prepared for any regulator investigations and good consumer outcomes.
FCA Handbook
Every year, financial advisers require a Statement of Professional Standing to ensure they meet the minimum standards of working. As part of this certification, advisers must keep up with industry updates, and meet ethical behavior standards.
On Demand: Is conduct and culture the next regulatory priority?
Watch on demand as our expert panel discuss the increasing significance that regulators are placing on a cultivated “culture of compliance" in the U.S.
Consumer Credit Directive: Navigating the new regulatory framework
Recently revised in 2023, the Consumer Credit Directive (CCD) now addresses contemporary challenges in the consumer credit sector, including digitalization and new financial products. But what are the compliance implications of the CCD 2023 Revision?
Regulation Best Interest
Imagine accidentally revealing something that you were never supposed to share. In a regulated industry like finance, that type of mistake can have severe consequences, which is precisely why FINRA 2210 exists.
Consumer Duty: how does surveillance play its part?
“Eat the frog”. That was the advice from FCA executive, Sheldon Mills, when he told compliant firms to prioritize the most difficult tasks in order to comply with the new Consumer Duty regulation.
Here’s how the Dodd Frank Act is evolving the financial market
The Dodd Frank Act was a transformative and ground-breaking piece of legislation when it was brought into the United States during 2010. In response to the financial industry’s dire Wall Street crash in 2008, this Act aimed to better protect the Federal Reserve, financial markets and consumers, preventing a repeat of the crisis.
Nowhere to hide – FCA reviews state of crypto promotions
The FCA has published a review of whether cryptocurrency firms are meeting its latest rules around marketing and promotions - with many falling short of the required compliance standard.
Bad finfluence – Is influencer marketing worth the risks?
With the FCA having announced court dates for a case against nine social media influencers involved in non-compliant financial promotions, do the benefits outweigh the risks for ‘finfluencer’ marketing?
The complete guide to CONC (Consumer Credit Sourcebook)
The FCA's Consumer Credit Sourcebook (CONC) is a valuable tool for firms engaging in debt advice with customers.