The Financial Ombudsman Service for small businesses has received more than 4,800 new cases from businesses so far this financial year. The data, which covers the period from the beginning of April to the end of November 2024, demonstrates the many challenges firms...
Premium Credit Ltd (PCL) has written to insurance brokers saying that, following taking King’s Counsel advice, it will not be imposing any changes to existing customer journeys, and firms should not expect any changes from PCL’s perspective either. This approach...
The FCA has published a Policy Statement introducing changes to its Financial Crime Guide. Handbook Notice 124, sets out the specific sections in the Guide which have been updated. In summary, the updates to the Financial Crime Guide; relate to sanctions,...
As outlined in its Life insurance portfolio letter: insurance market priorities 2023-2025 from September 2023, the FCA has carried out work to understand how life insurers’ service delivery compares with their intended standards in relation specifically to bereavement...
HM Treasury has published the details and a summary of the new Chancellor’s first Mansion House speech. The main focus of the speech is to enhance the UK’s international competitiveness by making it “a global powerhouse for financial services” with a package of...
Following a review, the FCA has made a number of changes to, and has improved, its disclosure processes in regulatory enforcement cases. In the case of Seiler and others v FCA [2023] UKUT 00133, the Upper Tribunal recommended that the FCA should review certain...
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