Retail

Following on from our previous Regulation Around the World issue on buy now pay later (BNPL), we have published this short briefing note which provides a high-level snapshot of the state of play for BNPL legislation in three key markets – UK, US and Australia.

On 23 May 2024, the Financial Ombudsman Service (FOS) published a Consultation Paper setting out proposed changes to its fee structure, following the introduction of legislation in Parliament. The Government has begun the process of exercising powers given under the Financial Services and Markets Act 2023 to allow the FOS to update its

On 21 May 2024, a draft statutory instrument (SI) – The Financial Services and Markets 2000 (Ombudsman Scheme) (Fees) Regulations 2024 – was published on legislation.gov.uk, along with a draft explanatory memorandum.

The draft SI would allow the Financial Ombudsman Service (FOS) to charge fees to claims management companies (

On 16 May 2024, the Financial Conduct Authority (FCA) published six ‘Dear CEO’ letters, setting out information to support firms in their final preparations for implementing the Consumer Duty for closed products and services. This is ahead of the implementation deadline on 31 July 2024. The letters are addressed to the CEOs or

In our latest podcast, Partner Matthew Gregory is joined by Senior Associate Joe Bamford, both of whom specialise in retail conduct, to discuss the FCA’s consultation (CP23/24) on changes to the capital requirements for personal investment firms, with particular focus on how firms must calculate their potential redress liabilities for these purposes. The podcast also

On 10 April 2024, the Financial Conduct Authority (FCA) published finalised guidance (FG24/2) for firms supporting existing mortgage borrowers impacted by the rising cost of living.

Background

The FCA published finalised guidance in March 2023 explaining how firms can support their customers, including through automated processes and digital channels.  The guidance set out