Consumer Duty - Guidance

The Financial Conduct Authority FCA published final rules for the Consumer Duty along with key timescales in July 2022.

Demand for buy now, pay later has increased across all age groups

According to a survey commissioned by the Centre for Financial Capability, demand for buy now, pay later deals has surged among all age groups in the UK.

FCA launches financial promotions consultation

Between July and September of 2022, the Financial Conduct Authority (FCA), intervened to amend or withdraw 4,151 financial promotions, the highest amount since it began publishing data. According to the FCA, retail lending, investments and banking are the sectors which have the highest rate of amends or withdrawal of adverts and amount to around 95% of all interventions concerning financial promotions.

Spotlight on the AR Regime

According to HM Treasury, within the UK financial services sector, there are around 40,000 Appointed Representative (AR) firms (including introducer ARs) operating under around 3,600 principal firms.

FCA Dear CEO letter – FCA strategy for firms providing high-cost lending products

The FCA has set out an updated view on the key risks of harm that high-cost lending firms pose to their customers and the markets in which they operate.

FCA Dear CEO Letter - General Insurance

FCA expectations of general insurance firms