Browse all articles across people aspects of regulation and people development within UK financial services
With pensions transfer values looking increasingly attractive to retirees, demand is at an all time high. But with ongoing client-suitability concerns and a lack of appetite from many firms to carry out transfers from DB to DC schemes, training demands are on the rise too.
Behavioural economics has been gaining a lot of attention from the financial services industry. The FCA issued an ‘occasional paper’ in April 2013 where they highlighted their intention to make behavioural economics a factor in the regulation of financial conduct. So what exactly is behavioural economics?
Now that the Christmas festivities are over and a new year has dawned the time has come once again for a period of renewal, typically marked by a flurry of new year resolutions; changes to diets, perhaps, or new health and fitness regimes; commitments to complete long-standing odd-jobs around the home, or perhaps a resolution…
The times they are a-changing, as Bob Dylan so elegantly vocalised. And it appears now – more than ever – that things are changing more quickly and dramatically than we’ve seen before. Staying ahead, or even remaining a part of the game, is becoming increasingly difficult for many organisations.
An interesting and thought-provoking day, with speakers discussing developments in corporate governance, how to make outsourcing work, practical challenges in merging cultures and the role of the regulator as the gatekeeper for the industry The conference held on 18th March was organised by FSTP to explore three major topics in the Financial Services industry today…
For the past 40 years the consumer credit industry has been regulated by the Office of Fair Trading (OFT) under powers granted in the Consumer Credit Act 1974 (CCA).
Why the change? It’s been a while coming but mounting evidence from the Citizens Advice service has shown questionable practices from consumer credit firms continue to have a detrimental impact on consumers, affecting not only their financial situation, but also their mental and physical health and family life.
In April this year new lending rules were introduced which were designed to regulate the mortgage market and introduce greater consistency and clarity into the ways in which the terms of mortgages are set out and how they are offered to consumers.
Way back in 1817 the New York Stock Exchange (NYSE) opened. The grand building on Wall Street with its imposing pillars and iconic bell set the standard for how an exchange should operate. The NYSE became an institution of excellence. Although some of the decisions that the made were highly questionable.
Despite the current economic growth and positivity that governmental and regulatory advisers across the UK are forecasting, the financial industry is still experiencing ripples from the 2008 financial crisis. Financial services organisations are often seen in newspaper headlines and industry bulletin boards with tales of malpractice and demonstrations of poor values.
Ok, we all know what happens now and in contrast to the fine, one of the positive outcomes is a new T&C Scheme.
I once saw, “Chalk and talk is dead,” on the website of an exam training provider, advocating digital learning above all else. I imagined training without the classroom trainer. I saw training materials agreed by committee, formulaic presentations by computer-generated talking heads and candidates passively absorbing information. I didn’t like it.
