The UK has now left the EU. We are in a transition period which is due to end on 31 December 2020. While most rules and requirements continue unchanged during the transition for most firms and most clients, it is prudent to keep up to date on the current position and what is likely to happen when the transition period ends.
The FCA has gathered all its BREXIT related information and links here.
Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.
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The FCA has announced a call for input. We’ve published a call for input on whether the thresholds for small and medium sized enterprises (SMEs) to be able to refer complaints to the Financial Ombudsman Service (Ombudsman Service) remain appropriate. In 2018, we made new rules extending access to the Ombudsman Service for […]
There are two Consumer Duty deadlines on the horizon. Firms must take note and action as required. 30 April 2023 The first deadline is 30 April 2023. By this date, Manufacturers should have completed all the reviews necessary to meet the outcome rules for their existing open products and services so they can […]
The FCA has announced that it is conducting a Consumer Duty preparedness survey. The survey is being sent to a sample of small and medium-sized firms to understand the progress they are making in implementing the Duty. The survey is being carried out on behalf of the FCA by Ipsos Mori. The results […]
Consumer Duty will require most firms to review their business model and, in particular the value of the services they offer. The regulator clearly has a focus on the ongoing service provided to clients. There are longstanding rules that require firms to: … consider whether the personal recommendation or any other related service is […]
Have you advised on British Steel pension transfers? Action required!
Paul Jay Compliance 2016, 2018, FCA, Pension, Pension Transfer, protection, transfer
Firms who have advised clients to transfer away from the British Steel Pension Scheme (BSPS) should be well acquainted with the content of PS22/14 by now … … but some don’t seem to be aware that they need to have completed some key activity for clients in scope of the redress scheme. The BSPS […]