Despite some adjustments to the proposed guardrails, the FCA has largely retained its original approach.
On 26 July 2024, the FCA published its final rules on payment optionality for investment research (PS24/9)....more
The final guidance clarifies the scope and application date of the rule, and answers questions around good practice and accessing third-party data.
On 23 April 2024, the FCA published its final guidance (FG23/4) on its...more
The FCA is proposing to allow asset managers to rebundle payments for third-party research and trade execution.
On 10 April 2024, the FCA published its much-anticipated Consultation Paper on payment optionality for...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
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 FCA’s long-awaited regime seeks to raise standards, increase consumer understanding, and reduce instances of greenwashing.
On 28 November 2023, the FCA published its Policy Statement (PS23/16) containing final rules on...more
The FCA has set out good and poor practices for asset managers to consider in relation to funds with ESG or sustainable characteristics.
On 16 November 2023, the FCA published the findings from its review of how asset...more
11/28/2023
/ Asset Management ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Governance Standards ,
Investment Funds ,
Investment Management ,
Sustainability ,
Sustainable Business Practices ,
UK
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
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
Regulator clarifies that existing FCA rules will continue to apply but will also reflect the evolving landscape of financial promotions on social media.
On 17 July 2023, the FCA published a guidance consultation (GC23/2)...more
7/21/2023
/ Affiliates ,
Comment Period ,
Consultation ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Promotions ,
Financial Services Industry ,
Guidance Update ,
High Risk Financial Products ,
Influencers ,
Marketing ,
Retail Investors ,
Social Media ,
UK
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 Future Regulatory Framework and Consumer Duty will be key areas of focus for the coming year.
On 5 April 2023, the FCA published its Business Plan for 2023/24. The Business Plan sets out a number of priority areas...more
The letters ask senior management to prioritise implementing the Duty.
On 3 February 2023, the FCA published Dear CEO/Director letters underscoring the immediate (i.e., during the implementation period up until 31 July...more
2/7/2023
/ Consumer Credit Protection ,
Consumer Lenders ,
Dear CEO Letter ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Insurance Industry ,
Investment Adviser ,
Mortgage Lenders ,
Senior Managers ,
UK
The FCA has reviewed firms’ progress to embed the Duty into their businesses, providing good and poor practice examples for firms to improve and direct their implementation work.
The Consumer Duty (Duty) rules (as set...more
The FCA’s latest report into D&I highlights the need for additional metrics, social mobility, firm culture, staff development, data quality, and systematic strategies.
In 2021 and 2022, the FCA carried out a survey of...more
The Financial Services Skills Commission has issued an insight paper outlining how companies can collect and evaluate data on employees’ socioeconomic backgrounds.
Socioeconomic backgrounds of employees and socioeconomic...more
FCA makes clear that it expects a cultural shift in how firms focus on consumers.
On 7 December 2021, the FCA published its second Consultation Paper (CP21/36) on introducing a new Consumer Duty....more
12/10/2021
/ Consultation ,
Consumer Financial Products ,
Duty of Care ,
Enforcement ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Good Faith ,
Public Comment ,
Retail Investors ,
SMCR ,
UK
A new national strategy report aims to combat climate-related risks to the US financial system.
On October 14, 2021, the Biden Administration issued “A Roadmap to Build a Climate-Resilient Economy” (the Roadmap), a...more
10/21/2021
/ Biden Administration ,
Climate Change ,
Disclosure Requirements ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Justice ,
Federal Acquisition Regulations (FAR) ,
Federal Budget ,
Financial Institutions ,
Financial Services Industry ,
FIO ,
Greenhouse Gas Emissions ,
Information Reports ,
Insurance Industry ,
OMB ,
Regulatory Agenda ,
Risk Alert ,
Risk Mitigation ,
Securities and Exchange Commission (SEC)
This decision shines a spotlight on the activities of unregulated introducers.
In a recent decision, the Court of Appeal upheld the FCA’s findings that unregulated introducers had been carrying on regulated activities...more
10/13/2021
/ Alternative Investment Funds ,
Appeals ,
Criminal Liability ,
Enforcement Actions ,
False Statements ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FSMA ,
Pensions ,
Statutory Violations ,
UK ,
UK Regulated Activities Order (RAO Amendments) ,
Unregulated Entities
The global asset management community has long been among the leaders in recognising the investment and risk management benefits of tracking the environmental, social, and governance (ESG) performance of the assets it invests...more
10/4/2021
/ Asset Management ,
Business Strategies ,
Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Services Industry ,
Germany ,
Global Standards ,
Hong Kong ,
Investment Management ,
Multinationals ,
Publicly-Traded Companies ,
Singapore ,
Sustainability ,
UK
UK rules will diverge from the much-criticised EU framework.
On 20 July 2021, the FCA published a Consultation Paper (CP21/23) on amending the UK PRIIPs Regulation. The FCA has long held concerns about the PRIIPs...more
7/22/2021
/ Consultation ,
Corporate Bonds ,
Debt Securities ,
Disclosure Requirements ,
EU ,
European Supervisory Authorities (ESAs) ,
Financial Conduct Authority (FCA) ,
Financial Instruments ,
Financial Services Industry ,
Investment Funds ,
Market Participants ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Regulation Technical Standards (RTS) ,
Retail Investors ,
UK ,
UK Brexit
FCA has published guiding principles on the design, delivery, and disclosure of ESG and sustainable investment funds.
On 19 July 2021, the FCA published a letter sent to chairs of authorised fund managers, which sets out...more
The FCA is proposing a disclosure regime for asset managers, life insurers, and pension providers.
On 22 June 2021, the FCA published a Consultation Paper (CP21/17) on introducing climate-related financial disclosure...more
6/28/2021
/ AIFM ,
Asset Management ,
Climate Change ,
Consultation ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Insurance Industry ,
Pensions ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UK