The regulator found many examples of good practice, but also published further guidance and case studies to help firms address areas for improvement....more
A review of fund and portfolio managers found a number of good practices, but also revealed the need for improvement in areas such as conflict management.
On 5 March 2025, the FCA published the findings from its review...more
3/7/2025
/ Conflicts of Interest ,
Corporate Governance ,
Disclosure Requirements ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Fund Managers ,
Investment Management ,
Portfolio Managers ,
Private Equity ,
Private Funds ,
Risk Management ,
Valuation
In this episode of our Connected With Latham podcast series, the final of three episodes complementing Latham’s “10 Key Focus Areas for UK-Regulated Financial Services Firms in 2025” report, London partners Rob Moulton and...more
In this episode of our Connected With Latham podcast series, the second of three episodes complementing Latham’s “10 Key Focus Areas for UK-Regulated Financial Services Firms in 2025” report, London partners Rob Moulton and...more
In this episode of our Connected With Latham podcast series, the first of three episodes complementing Latham’s “10 Key Focus Areas for UK-Regulated Financial Services Firms in 2025” report, London partners Rob Moulton and...more
The FCA proposes moving away from the PRIIPs KIDs to a more flexible, technologically neutral regime, which allows firms to innovate and prioritise good customer outcomes....more
In this publication, we explore some of the core focus areas for UK-regulated financial service firms in the year ahead. In 2024, we saw disruption to the regulatory reform agenda as the unexpected timing of the general...more
On 11 December 2024, the FCA published two pieces of feedback on the Consumer Duty, setting out good practices and areas for improvement in relation to Consumer Duty board reports and complaints and root cause analysis....more
When the Edinburgh Reforms were announced on 9 December 2022, they were billed as an ambitious set of reforms. Two years on, we assess which of the measures have been completed, which remain outstanding, and whether they have...more
12/10/2024
/ Banking Sector ,
Capital Markets ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Regulatory Reform ,
Financial Services Industry ,
Green Finance ,
HM Treasury ,
Investment Funds ,
MiFID II ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Prospectus ,
Prudential Regulation Authority (PRA) ,
Regulatory Reform ,
Scotland ,
Securitization ,
SMCR ,
UK
The survey finds that most firms are using AI, but many only have a partial understanding of how the technology operates.
On 21 November 2024, the Bank of England (BoE) and FCA published a report setting out their...more
The UK Chancellor announces a growth-focused agenda for financial services.
On 14 November 2024, the new Chancellor of the Exchequer, Rachel Reeves, delivered her first Mansion House speech....more
11/15/2024
/ Capital Markets ,
Consultation ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Green Initiatives ,
HM Treasury ,
MiFID II ,
Proposed Legislation ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Sustainable Finance ,
UK
The data provides important insights to assist firms with their ongoing work in this area.
On 25 October 2024, the FCA published the results of a survey on non-financial misconduct it undertook earlier in the year...more
10/28/2024
/ Corporate Misconduct ,
Data Collection ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Harassment ,
Insurance Industry ,
Remuneration ,
Sexual Harassment ,
Surveys ,
UK ,
Whistleblowers ,
Workplace Violence
PRA and FCA speeches recap the regulators’ work to deliver growth and enhance competitiveness, and outline some key upcoming policy work.
On 17 October 2024, the PRA and the FCA both published speeches given by their...more
The latest guidance from the regulator focuses on the price and value outcome.
On 18 September 2024, the FCA published further feedback on the Consumer Duty, setting out good and poor practices in relation to the price...more
Fighting financial crime, protecting consumers’ needs, and bolstering wholesale markets are the regulator’s key priorities for the year ahead.
On 19 March 2024, the FCA published its Business Plan for 2024/25, setting...more
FCA finds firms have been working hard to embed the Duty, but there remains room for improvement.
On 20 February 2024, the FCA published more information on the Consumer Duty, including a publication highlighting good...more
2/29/2024
/ Compliance ,
Compliance Monitoring ,
Corporate Culture ,
Corporate Governance ,
Data Collection ,
Duty of Care ,
Fair Value Standard ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Goods or Services ,
Regulatory Requirements ,
Surveys ,
UK
The OCC outlines safety and soundness principles and appropriate risk management processes for its regulated institutions that engage in BNPL lending.
On December 6, 2023, the Office of the Comptroller of the Currency...more
The Discussion Paper on the Advice Guidance Boundary Review examines how authorised firms can provide more support to customers.
The FCA has published a Discussion Paper (DP23/5) with the government on the Advice...more
The changes will significantly modernise the regime and enhance consumer protections.
The EU has adopted a new Consumer Credit Directive, known as CCD2, which repeals and replaces the existing EU consumer credit regime...more
As regulatory thinking evolves, firms must ensure that any current or planned use of AI complies with regulatory expectations.
As financial services firms digest FS2/23, the joint Feedback Statement on Artificial...more
The proposal would substantially reduce the number of benchmarks in scope of the EU BMR.
On 17 October 2023, the European Commission published a legislative proposal that would significantly alter the benchmarks in scope...more
The FCA and the PRA have published their long-awaited consultations which aim to formalise how firms approach diversity and inclusion.
On 25 September 2023, the FCA and the PRA published separate but related consultation...more
10/2/2023
/ Compliance ,
Compliance Monitoring ,
Consultation ,
Corporate Governance ,
Disclosure Requirements ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Proposed Regulation ,
Prudential Regulation Authority (PRA) ,
UK ,
Willful Misconduct
With the implementation deadline looming, the FCA has set out some additional guidance for firms.
With one month to go until the Consumer Duty (Duty) implementation deadline of 31 July 2023 (for new and existing products...more
What Is the Consumer Duty?
To recap, a core priority for the Financial Conduct Authority (FCA) is improving outcomes for consumers. The FCA has stated that it is concerned that, due to the way financial services markets...more
The Consumer Duty applies to firms that materially influence consumer outcomes.
The Consumer Duty (Duty) (as set out in the FCA’s Policy Statement PS22/9 and guidance document FG22/5) will come into force at the end of...more