There is a FCA roadshow webinar featuring a question and answer session on its consultation paper, CP15/6: Consumer credit – proposed changes to our rules and guidance.
This is a one hour session with the main topic areas including credit broking, web domain names, guarantor lending and peer to peer lending.
For general information, or if you are active in any of the above areas, you can sign up to listen to the webcast here.
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It is more than a year since the FCA took over consumer credit authorisation and it is clear they are open-minded about their future approach to supervision, be it either the current principle based or a more prescriptive approach.
Our report writing software has been fully updated to accommodate changes to allowances, rates and reliefs in advance of the 2023/24 tax year. Full details can be found below: Pensions ‘Annual Allowance’ amount updated to £60,000.00. Adjusted income threshold amount for the ‘Tapered Annual Allowance’ updated to £260,000.00. ‘Money Purchase Annual Allowance’ amount updated to […]
Most of the talk in the financial services industry relating to 31/7/23 focuses on Consumer Duty and for good reason, because it will bring big changes for many firms, including a new addition to the FCA’s Principles for Businesses. The new Principle 12 states: “A firm must act to deliver good outcomes for retail […]
The FCA has advised as follows: Last year we launched a new three-year strategy to improve outcomes for consumers and in markets throughout the UK. As our remit is broad and growing, the strategy prioritises resources to prevent serious harm, set higher standards and promote competition. Today we’ve published our Business Plan for […]
In our article last week, we highlighted the deadlines for implementation of Consumer Duty – 30 April and 31 July … … the rules for existing products and services take effect on 31 July and the earlier deadline of 30 April is for Manufacturers to have completed some preparatory work. Hard on the heels […]
Consumer Duty: It’s a matter of Principle
Huw Reynolds Compliance Conduct, FCA, PI, protection
Apologies for the Consumer Duty overload but unless you’re taking a regulatory sabbatical, this is very much a hot topic. There are in excess of 50 FCA Handbooks (rules and guidance). You cannot be expected to be conversant with all of them, but you should have a good handle on the key ones, such […]