The FCA has, for many years, had an extensive range of powers available to it to require firms to undertake redress exercises. These powers have historically not been used by the FCA that frequently. Our expectation, however,...more
On 31 July 2023, following roundtable discussions held with banks earlier that month, the FCA published its Cash Savings Market Review (the “Review”).
In this insight we explore the content of the Review, as well as...more
8/4/2023
/ Consumer Financial Products ,
Consumer Protection Laws ,
Deposit Accounts ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Hedging ,
Interest Rates ,
Price Inflation ,
Ring-Fencing ,
Savings Accounts ,
UK
On 27 July 2022, the FCA published its policy statement, PS22/9, setting out its final rules for its new Consumer Duty (“Duty”), together with accompanying non-Handbook guidance. The Duty aims to set higher standards of...more