We have three important reminders for you.
1 April 2017
Significant changes to how general insurance renewals must be processed come into effect on 1 April 2017. See here for more detail.
27 March 2017
Changes to how firms disclose services and costs apply from 27 March 2017. See here for more detail.
26 March 2017
British Summer Time starts. Look out those shorts and don’t forget to put your clocks forward at 1am on the 26th.
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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 […]