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Compliance

FCA issues a number of updates for firms during coronavirus pandemic

This week, the Financial Conduct Authority (FCA) has issued a number of updates for regulated firms as the UK continues to battle the coronavirus pandemic. Here we summarise the most recent developments. Bank branch opening On Monday (23 March), the FCA confirmed that banks and building societies should try to keep their branches and contact centres [...]

March 27th, 2020|Compliance|0 Comments

FCA postpones all ‘non-critical’ work due to coronavirus pandemic

The Financial Conduct Authority (FCA) has delayed much of its planned work due to the Covid-19 pandemic, an FTAdviser article reported this week. Recognising the need for the financial services sector to focus on ‘supporting their customers during this difficult period’, the regulator told FTAdviser earlier in the week that it was reviewing what regulatory work [...]

March 20th, 2020|Compliance|0 Comments

What does the FCA expect of insurers during the Covid-19 pandemic?

These are unchartered waters for everyone, businesses and individuals. Yesterday (19 March), the Financial Conduct Authority (FCA) set out its expectations for general insurance firms during the pandemic. It also provided information for consumers about what they should see from their insurance provider. What has the FCA said? The regulator has provided information on [...]

March 20th, 2020|Compliance|0 Comments

How to ensure your firm is treating vulnerable customers fairly

Last week, the Financial Conduct Authoirty (FCA) shared the approach it is taking to ensure firms treat vulnerable customers fairly. Publishing details of a speech given at the TISA Vulnerability Conference last month, the regulator outlined its forthcoming new guidance on vulnerability. The guidance aims to give businesses greater clarity on what they are expected to [...]

March 16th, 2020|Compliance|0 Comments

What can you learn about communications from new FCA mortgage research?

Last week, the Financial Conduct Authority (FCA) released research into mortgage switching – looking particularly at how consumers can be encouraged to seek out better deals. The regulator’s research has three strands: Its mortgage switching research report Occasional Paper 54 on the characteristics of consumers who do not switch Occasional Paper 55 on brand loyalty [...]

March 16th, 2020|Compliance|0 Comments

How could an FCA thematic review impact your firm?

The Financial Conduct Authority (FCA) carries out regular ‘thematic reviews’ into areas of the financial services industry. What are these reviews about and what do they entail? Importantly for Compliance teams, what might prompt one – and what are the potential implications for your firm if a review is announced within your sector? Why [...]

March 13th, 2020|Compliance|0 Comments