The Financial Ombudsman Service (FOS) has announced that the FCA has confirmed the increase to the FOS award limit for the coming financial year. The award limit is the maximum amount FOS can require a financial business to pay when it upholds complaints. This limit...
Data from the Chartered Insurance Institute’s 2023 Corporate Chartered Equality, Diversity & Inclusion survey indicates positive business outcomes for firms implementing EDI (DE&I) practices and policies The survey builds on initial research on the adoption...
The FCA has announced that it will conduct a review into the action firms are taking to understand and respond to the needs of customers in vulnerable circumstances. It will share its findings by the end of 2024. During the review, the regulator will assess: firms’...
The FCA has written a Dear CEO letter to certain firms (‘Annex 1 firms’ – which are firms carrying on the activities noted on page 88 of 99 in this document), which are subject to the Money Laundering Regulations (the MLRs). The Dear CEO letter relates to common...
The FCA has published a web page effectively linking the House of Commons Treasury Committee’s ‘Sexism in the City’ report to its Consultation aimed at boosting diversity and inclusion in financial services. The page, not published alongside any other resource,...
The FCA wants to change how it publicises its enforcement investigations to increase the transparency of its enforcement work and its deterrent effect, and to disseminate best practice. Following a review, it also wants to change its Enforcement Guide to reduce...
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