Browse all articles across people aspects of regulation and people development within UK financial services
The FCA have announced a review of suitability, this time with a focus on the advice that clients receive in connection with their retirement planning, particularly at the point of retirement.
Julie Pardy from Worksmart cooments on the arrival of the new FCA Directory. The Financial Services Register has been part of the regulatory landscape since the Financial Services and Market Act 2000 came into force in 2001.
Slipped into the wash-up of consultation responses and Calls for Input published in the last full business week of 2019 was the FCA’s PS19/30 which substantially extends the role of Independent Governance Committees (IGCs). IGCs currently provide independent oversight of the value for money of workplace personal pensions in accumulation, i.e.
“A significant part of this debate (Responsibility to act in the public interest) turns on the issue of outcomes versus rules. Rules are a crucial mechanism for delivering outcomes, but can also be interpreted so rigidly as to become a box-ticking exercise”. “This is the lesson we want to see reflected in a firm’s behaviour….
So here we are on the morning of 9 December 2019. It is a cold, crisp, dry morning. The sun is shining, and everything feels the same as normal. So, what’s changed? Today is the deadline of the senior managers & certification regime for FCA solo regulated firms.
With only 14 working days to go before the SM&CR deadline for solo regulated firms we continue to try and provide as much support as we can. Today we have created open access to all our SM&CR videos with the T-CViews section of www.t-cnews.
It was no April Fools Day joke for claims management companies (CMCs) as the FCA assumed regulation of the industry on the first. But how are CMCs, who have never considered themselves as financial services, ensuring they meet FCA approval? Richard Whittington, Product Owner at Unicorn Training, takes a look.
During the first quarter of 2018 we were inundated as consumers with an acronym that almost seemed to define our lives: GDPR, the General Data Protection Regulations that came into force on 25th May 2018. They were enacted into UK Law by the Data Protection Act 2018.
Recently, the FCA published its business plan for the coming year. This makes interesting reading. It identifies many issues that it is looking to pursue in the coming year. But firstly, it sets out its mission statement. Measuring the FCA performance The FCA Mission confirmed its three-tier framework for performance reporting.
MiFID II brought an overhaul that aimed to increase transparency, reduce costs for investors and clampdown on market misconduct in the financial industry. But is it having the desired impact? When MiFID II came into force on 3 January 2018, it signalled an enormous piece of project work for those affected.
It has been estimated that there were about 500 claims management companies (CMCs) when the Access to Justice reforms took effect and the UK saw the introduction of ‘no win, no fee’.
As everyone in the industry will be well aware by now, the Senior Managers and Certification Regime (SM&CR) for solo regulated firms comes into effect from 9th December this year, bringing with it new responsibilities for staff at pretty much every level of the business.
