In this episode, following the FCA’s interim 31st October deadline, Jonathan Herbst, Matthew Gregory, Joe Bamford and Iain Hawthorn focus on where firm’s should be now, and the key things they need to consider in taking forward their implementation plans for the new Consumer Duty. The discussion includes the steps that firms need to
RT Plus – The Consumer Duty Series: Key takeaways from the FCA’s policy statement
In the latest episode of our Consumer Duty series, Joe Bamford and Iain Hawthorn unpack the key takeaways from the FCA’s policy statement and finalised non-handbook guidance published on 27 July 2022 and summarise immediate next steps for firms.
FCA publishes policy statement on new Consumer Duty
On 27 July 2022, the FCA published Policy Statement 22/9 ‘A new Consumer Duty – Feedback to CP21/36 and final rules’ (PS22/9). This was accompanied by the FCA’s ‘Final non-Handbook Guidance for firms on the Consumer Duty’ (FG22/5).
PS22/9 follows Consultation Papers 21/36 and 21/13 on the new Consumer Duty,
FCA publishes webpage on competency and capability of MLROs and heads of compliance
On 28 January, the FCA published a webpage where it set out its expectations regarding the competence and capability of MLROs and heads of compliance at authorised and registered firms. The FCA’s webpage contains a number of points that firms can use to determine whether or not an individual is suitable to perform the MLRO
Financial Services in Focus: the new Consumer Duty series – recording now available
The recording from our recent webinar ‘Financial Services in Focus: the new Consumer Duty series’ is now available and can be accessed here.
The future of the UK retail investment market: a post-Brexit and COVID-19 outlook
8 September 2021 | 08:50 AM – 09:30 AM BST
In retail – the front line of the financial sector – things have moved on significantly since the start of the COVID-19 pandemic with the introduction of new technology and investment opportunities. With these changes new risks have emerged, increasing vulnerability among consumers – particularly
FOS board commission independent review
The commissioning of independent reviews is something the board of the Financial Ombudsman Service (FOS) undertakes periodically. On 23 July, the FOS website published a press release stating that another independent review had been commissioned into whether the FOS can continue to meet the needs of its customers, both businesses and consumers.
The review will
Good governance: lessons from the pandemic and key considerations as lockdown eases – recording now available
On 9 June we hosted the latest in our monthly briefing series, which focussed on good governance in a pandemic and post pandemic context. Within this, the session covered the following topics:
- Senior Managers and Certification Regime:
- How this has evolved through the pandemic
- FCA key areas of focus
- Governance hot topics
- Culture, diversity and
Webinar | Good governance: lessons from the pandemic and key considerations as lockdown eases
Date: 9th June 2021
Time: 08:50am – 09:30am GMT
The COVID-19 pandemic has led to many challenges for businesses, including large-scale remote working, staff lay-offs, increased use of online services and more vulnerable customers. In light of this, good governance has never been more important with company boards under close scrutiny from all stakeholders including
Building your sustainable finance proposition: an initial checklist
On 1 July 2020, the Prudential Regulation Authority (PRA) published a “Dear CEO letter”, which stated that firms (i.e. UK-incorporated entities) need to have fully embedded their approaches to managing climate related financial risks by the end of 2021.
The end of 2021 deadline represents more than two and a half years since