On 6 July 2023, the Bank of England (BoE) and the Financial Conduct Authority (FCA) provided an update on their joint data transformation programme. Through the programme, the BoE and FCA are working together with industry to transform data collection from the UK financial sector.
The Transforming Data Collection (TDC) joint
On 4 July 2023, the FCA published Policy Statement 23/10: FCA regulated fees and levies 2023/24 (PS23/10), which includes feedback on its earlier consultation and sets out the final 2023/24 periodic regulatory fees and levy rates for the FCA, the Financial Ombudsman Service, and levies collected on behalf of government departments.
In PS23/10
On 30 June 2023, the FCA published Handbook Notice No 110.
The Handbook Notice describes the changes to the FCA Handbook and other material made by the FCA Board under its legislative and other statutory powers.
On 25 May 2023, the Board of the FCA made the relevant changes to the Handbook as set
On 30 June 2023, the FCA published Policy Statement 23/8 ‘Mortgage Charter: enabling provisions’ (PS23/8).
The FCA is amending its Mortgages and Home Finance: Conduct of Business sourcebook (MCOB) to support the implementation of the Government’s Mortgage Charter. The changes enable mortgage lenders to meet their commitments under the Charter, which
On 30 June 2023, the PRA published Consultation Paper 11/23: PRA statement on the review of rules (CP11/23).
Under the Financial Services and Markets Act 2023 (FSM Act), the PRA will take on wider rule-making responsibilities in areas that were previously covered by retained EU law. The PRA will become subject
On 22 May 2023, the FCA published Consultation Paper CP23/12: Expansion of the Dormant Assets Scheme (DAS) – second phase.
Introduction
The DAS was initially set up to allow banks and building societies to pay dormant monies to an authorised reclaim fund, which would then put this money towards funding
On 5 May 2023, the FCA published financial promotions quarterly data 2023 Q1.
The data provides an overview of how the FCA are working to improve standards across the markets so that consumers are provided with clear and fair financial promotions which are not misleading. The data covers the period between 1 January 2023
On 4 May 2023, the Bank of England (BoE) published Consultation Paper 9/23 ‘The Bank of England’s approach to enforcement: proposed changes and clarifications’ (CP9/23). CP9/23 proposes changes to the BoE’s and the Prudential Regulation Authority’s (PRA) enforcement policies and procedures, to the PRA’s policies and procedures for