The Financial Ombudsman Service (FOS) has published its annual complaints data from April 2022 / March 2023 along with insight into the common problems raised by consumers. These new figures show that current accounts, credit cards, car/motorcycle insurance, hire...
For insurance firms, the requirement to apply a ‘fair value for a reasonably foreseeable period’ test to insurance products has been in place since October 2021. This is reinforced by the Consumer Duty (“the Duty”), under which firms need to deliver and assess four...
John Edwards, the Information Commissioner, delivered a keynote speech at the Data and the Future of Financial Services Summit. The speech focussed on the ICO’s regulatory philosophy and how it is empowering businesses in the finance sector and protecting consumers...
High quality baseline financial resilience data is essential in helping the FCA to understand the risk of firm failure and risks across the financial services sector, improving its ability to protect consumers, ensure market integrity and ultimately, helping reduce...
Following a qualitative survey of whistleblowers, and alongside the publication of the latest whistleblowing quarterly data, the FCA has set out actions to improve the confidence of whistleblowers – including sharing further information with whistleblowers on how it’s...
The FCA is consulting on the rates for the regulatory fees and levies for the next financial year (1 April to 31 March). The Consultation Paper (CP 23/7) explains how it proposes to recover the costs of carrying out its work, covering: The FCA’s annual funding...
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