Browse all articles across people aspects of regulation and people development within UK financial services
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Only a week ago the Financial Ombudsman Service released its data for the quarter April to June 2023, quarter 1 of the FOS 2023/2024 financial year. New complaints relating to financial products and services totalled 43,953.
How many times have you scanned a long wine list full of expensive options you don’t understand and turned with relief to the back page to find the house wines?
By the time you are reading this, Consumer Duty for new and existing products and services that are open to sale will be nearly upon us or already in force.
The UK’s retirement landscape has transformed since 2015. More individuals are embracing various drawdown options rather than settling for annuity purchase. This shift brings a greater degree of complexity, making professional financial advice vital for consumers to make informed decisions.
David Bailey, BoE Executive Director for UK Deposit Takers Supervision and responsible for the supervision of the UK’s banks, building societies and credit unions, gave a speech at the recent Building Society Association annual conference.
After a quiet few months, I foresee the rate of consolidation of DC master trusts picking up over the next few months with announcements over the summer. This article asks what is driving consolidation and what it means for a pension system rocking from its failure to consolidate data onto a pension dashboard.
In an open consultation published on 30 January 2023, the DWP, FCA and TPR invited views on a framework for measuring value for money for AE members of DC pension schemes. Quote: ‘’DWP, the FCA and TPR are working together to develop a VFM framework and regulatory regime.
2023 is already looking like it’s going to be a tough year for the general insurance industry. Giving your people the skills to grow could be your best chance of leading your business through and stealing a march on your competitors.
Like the three wise men following the bright star, all compliance, calculations, case reviews and redress work as described in British Steel Pension Scheme (BSPS) PS22/14 will lead to the Financial Ombudsman Service (FOS) (in some shape of form).
The organisation behind a pension dashboard (officially a Pension Dashboard Service firm or PDS) is usually considered to be a bank or insurer.
Having written, last quarter, about the FCA Dear CEO Letter titled “The rising cost of living – acting now to support customers”, I was very reluctant to cover any subject that could be considered close to it this quarter.
