Following consultation by the Prudential Regulation Authority (PRA) the Financial Services Compensation Scheme (FSCS) is to increase its protection for deposits back to £85,000 per individual per institution (banks, building societies and credit unions) from 30 January 2017.
The increase has been prompted by the weakening of the Pound against the Euro.
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For information
Review and update all documents that refer to the FSCS deposit protection to reflect the increase to £85,000, particularly disclosure and proposition documents
Client conversations might need to be recorded from January 2018. Are you ready?
What you need to know about this new regulatory activity.
A timely reminder of when you need to notify the FCA.
700 firms to participate in this thematic review. Read this for details.
Pensions reforms – new advice rules
Alistair MacDougall Compliance 2015, 2016, 2017, FCA, Pension, Pension Transfer, PI
New rules around pension advice came into effect on 25 Aprill 2016. See here for details.