The FCA has made the following announcement about the FOS award limit.
“When we increased the Financial Ombudsman Service’s award limit in April 2019 we said that each year, from 1 April 2020, we would adjust the award limits for complaints referred to the service on or after 1 April 2019 to ensure they keep pace with inflation. Following the publication of the CPI figures for January 2021 there will be no adjustments made this year to the award limits set out in DISP 3.7.4R.”
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FCA disappointed. 73% of 113 firms failed to provide the required generic information on how they charge for advice.
The second stage of the FCA’s thematic reviews regarding firms’ delivery of the RDR has been published and focusses on independence. If you are interested in knowing more about what independence means then read on.
Do you include ‘Benefit Statements’ in your reports?
Is this what your suitability report could be growing?
Consumer Credit – When to Apply for Full Authorisation
Steve Bailey Compliance 2014, 2016, FCA
The FCA has issued guidelines to firms about when and how they should apply for full consumer credit authorisation. All firms who hold interim permissions or are new to consumer credit should read on.