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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We have written before (see here) about the situation where a privacy notice (and if required, consent) is covered with say, one party of a couple but where that individual then provides personal data about his or her partner. In our experience, many firms are still not handling this correctly. Children Under the regulations, for […]
The rules that came into effect in October 2020 arrived under a headline objective of ‘banning contingent charging’. Inevitably, the simple rule required to achieve this seemingly straightforward outcome had to be accompanied by a fairly large retinue of supplementary rules and guidance. Definitely a case of the devil being in the detail. Much of […]
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We have recently issued a couple of newsletter articles relating to the changes being implemented by policy statement 21/05 “General Insurance Pricing Practices Market Study” that can be accessed from here. To assist our clients, ATEB has mapped the relevant rules for distributors to help them be ready when the changes are to be implemented. […]
Pension transfer advice – assessing transfer risk
Alistair MacDougall Compliance 2015, 2018, 2019, 2021, DBAAT, Drawdown, FCA, Pension, Pension Transfer, PI, transfer
It has been well publicised that the FCA has aimed increasingly close scrutiny in the direction of firms that have been providing advice in relation to defined benefit pension transfers. Apparently caught off guard by the then Chancellor’s introduction in the Pension Schemes Act 2015 of what are generally called ‘pension freedoms’, the regulator has […]