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.
Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.
ATEB Compliance offers compliance and regulatory advice.
ATEB Suitability provides report writing software for the financial services market.
For information only.
For information only.
The FCA has announced a review of the 10% depreciation notifications requirement. This requirement came into being with MiFIDII in January 2018 and is intended to ensure that investors are kept informed in periods of extreme market volatility. The volatility in markets as a result of the pandemic in 2020 created a need for multiple […]
In February, the FCA published ‘Finalised guidance FG21/1: Guidance for firms on the fair treatment of vulnerable customers’. In launching the guidance paper, the FCA stated: “… 27.7 million adults in the UK now have characteristics of vulnerability such as poor health, experiencing negative life events, low financial resilience or low capability. Not all people […]
The significant increase in PII costs for firms providing investment advice in recent years and the difficulties for firms doing pension transfer business obtaining cover at any price for that type of business is well known. Issues with PII cover for GI or mortgage firms have been much more low profile. However, it seems that […]
FCA redress guidance has been updated as at March 2021 – this article explains the background as at the date of the Government’s announcement of the change and has now been updated with a follow up article which can be read here. The FCA has announced its intention to amend guidance for firms on how […]
FOS award limit to remain unchanged
Richard Foster Compliance 2019, 2020, 2021, complaints, FCA, FOS, PI
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 […]