An FCA review has found evidence to suggest some firms are offering customers less than the market value of their written-off or stolen vehicles – in some cases, providing lower offers and increasing them only when a customer negotiates or complains. The...
Although the FCA has now published Sheldon Mills’ recent speech, delivered at a KPMG Consumer Duty event, there was also a panel session with Mills and KPMG, as well as a Q&A session. Much of the speech focussed on the forthcoming 31st July Consumer Duty deadline...
Banks and the wholesale insurance sector should prepare to receive a survey from the FCA requesting data on non-financial misconduct as the regulator begins its investigation into how incidents are detected and handled in the financial services sector. The regulator...
As the financial landscape evolves, firms’ Training and Competence (T&C) schemes also need to evolve to remain robust and to align with the principles of the FCA’s Consumer Duty. The FCA will likely expect insurance distributors to include a focus on the...
Representatives of UKGI Group have recently attended a client money webinar held by the Institute of Chartered Accountants of England and Wales (ICAEW). Here we share the key messages from the webinar and some insights on the issues arising out of client money...
We saw several Dear CEO letters issued recently by the FCA, alongside the publication of the general insurance value measures data for 2022. The Personal and Commercial Lines Insurance Portfolio letter (20th September 2023) set out the FCA’s priorities for the...
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