The FCA has published a page for Principal firms with overseas Appointed Representatives (OARs). The information covers additional challenges that Principals may face, and outlines expectations and practical considerations for overseeing OARs. Feedback to...
The FCA has published the details of a multi-firm review it carried out in December 2023 amongst twenty large insurance firms, including general insurers, life insurers, insurance intermediaries and regulated third-party outsourcers which service insurers. In...
The FOS proactive settlement scheme currently gives financial businesses the opportunity to resolve a complaint early in the FOS process. Over the past couple of years FOS has trialled this new scheme to help financial businesses and their customers resolve...
The FCA has updated its Wider Implications Framework web page to include the 2023/34 Annual Report, the second Annual Report published by the members of the Framework since the Framework was launched in 2022. It covers the period 1st January 2023 to 31st March 2024....
The FCA published PS21/3 Building operational resilience in March 2021. The Policy Statement set out the final rules and guidance on the FCA’s new requirements to strengthen operational resilience in the financial services sector. The firms affected by the rules,...
The FCA has fined HSBC UK Bank plc, HSBC Bank plc and Marks and Spencer Financial Services plc (HSBC) almost £6.3m, which would have been almost £9m but for HSBC’s agreement to resolve the matter, for failures in its treatment of customers who were in arrears or...
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