Browse all articles across people aspects of regulation and people development within UK financial services
It’s that time of the year again. The evenings are drawing in, the children are back in school, and there’s a definite chill in the air signalling the end of summer.
It’s a feeling every student knows, as you walk out of the exam hall feeling elated that you literally smashed every question, they threw at you OR……………. you have the tendency to assume the worst in your exam performance and it’s a nail biting wait until results day.
Issues around diversity and inclusion have featured prominently in recent pronouncements from the FCA. The regulator has become increasingly concerned that financial services firms are not exactly leading the field on D&I – and wants to move fast to put that right.
In March 2021, the FCA issued FG21/3: guidance on advising pension transfers. You may note that the title did not say, final guidance on defined benefit pension transfers. It says guidance on pension transfers, and I think there is a hint to the future in that title.
By the time firms read this article, there will be roughly one month left to respond to the FCA CP 21-13. All regulated firms, providing products and services to retail clients should respond as the paper is a ‘watershed’ moment for outcomes focused regulation.
We have known for two decades that most employers no longer want to support defined benefit schemes. They see such support as a blank chequebook for the Pensions Regulator who extracts ever higher deficit contributions to meet ever more demanding funding codes.
In this article we look at the imprtance of being able to undertake a critical analysisi. The level of education, training, and experience that a professional has will make a big difference in the quality of the advice you receive.
Recent findings by the FCA estimates that 27.7 million adults in the UK are in circumstances that could make them vulnerable customers.
It is that time of the year again when the Financial Ombudsman Service release its half yearly complaints data, and this release is no less interesting than previous announcements. It appears that there is a clear shift in the landscape and a lot for regulated firms to take on board.
It seems odd that something as universal as money, can be valued in such different ways. I am always surprised that my partner considers achieving discounts on her shopping a personal triumph while she is happy to squander fortunes at charity auctions on items, we neither cherish nor use.
Firms in the insurance sector have been slow to take advantage of the generous financial support currently available for apprenticeship schemes At a time when our society and economy were changing faster than ever before, Covid-19 has slammed on the accelerator. Cash transactions vanished almost overnight. Working from home became the norm in many sectors.
Who are vulnerable customers and how can you learn to recognise their needs? 24,100,000 people. That is no small number, yet in the FCA’s ‘Financial Lives’ 2020 Survey this was the number of UK adults who fall under one of the 4 main drivers that could classify your clients as vulnerable customers.
