Compliance Insights Articles

Complaints Handling in the post-Consumer Duty world

In our experience, complaints are often seen as challenges. They can feel like a burden; something to do to comply with FCA requirements....

Robert Bell

Oct 24, 2024

Helping Customers In Financial Difficulties

Remember, remember the 4th of November? With the updates to CONC just around the corner, we’re helping firms to make impactful changes...

Robert Bell

Oct 17, 2024

FCA Update on Price and Value Outcome: Good and Poor Practice

In late September the FCA issued an update on firms’ implementation of the Consumer Duty. Bringing together insights gained by the...

Robert Bell

Oct 10, 2024

Regulatory Round Up: October 2024

The FCA has published its Annual Report and Accounts for the year ending 31 March 2024 . Overall, enforcement action appears to be...

Robert Bell

Oct 3, 2024

Motor dealers – what to look out for

Aside from the consumer duty (for which I’ve now published a book: ‘A Practical Guide to the Financial Conduct Authority (FCA) Consumer...

Robert Bell

Sep 26, 2024

Updates to CONC

The Consumer Credit Sourcebook (CONC) is being updated to further strengthen protections for consumers facing financial difficulty. The...

Robert Bell

Sep 19, 2024

Consumer Duty – What Next?

By now, we’re all familiar with what the Consumer Duty aims to do. The bar has been raised, but what comes next? One question now is how...

Robert Bell

Sep 12, 2024

FCA Put Fair Value into Action

The Consumer Duty was advertised as a step-change in regulatory expectations, one where firms will have to examine the very foundations...

Robert Bell

Sep 5, 2024

Regulatory Round Up: August 2024

Following earlier work on the consumer duty in the insurance industry, the FCA published a report on 21 August on issues around...

Robert Bell

Aug 28, 2024

CONC Updates – What this means for supporting customers in financial difficulties

There is some cause for optimism in the industry as Bank of England interest rates are slowly lowered, with most being cautiously...

Robert Bell

Aug 22, 2024

Supporting Vulnerable Customers – A strategic win for businesses too

Supporting vulnerable customers is going to be particularly important for financial services firms over the next 12 months. Undoubtedly,...

Robert Bell

Aug 15, 2024

Consumer Duty, The Future

There we have it, almost exactly two years since the Financial Conduct Authority (FCA) released their final guidance, the Consumer Duty...

Robert Bell

Aug 8, 2024

Regulatory Round Up: July 2024

The Financial Conduct Authority has proposed extending the current complaint handling pause until 4 December 2025. The pause will allow...

Robert Bell

Aug 1, 2024

Practical Tips for Qualitative Outcomes Monitoring

Outcomes monitoring is not entirely new in financial services regulation, but it has gained real traction with the regulators in recent...

Robert Bell

Jul 25, 2024

FCA Review: Insurance firms' compliance with Consumer Duty explained

Another month, another review of consumer duty compliance. The 26th June publication set out the Financial Conduct Authority’s findings,...

Robert Bell

Jul 18, 2024

Consumer Duty: How to measure cultural change

The Consumer Duty is intended to ensure firms step back and examine key aspects of their operation. From the more practical such as...

Robert Bell

Jul 9, 2024

Dear CEO: Implementing Consumer Duty for Closed Services by July 2024

As the additional year given to complete closed product reviews draws to a close, the FCA have engaged with firms by way of a Dear CEO...

Robert Bell

Jun 27, 2024

Regulatory update – June 2024

The FCA have fined HSBC UK £6,280,100 for “failing to show forbearance and due consideration to customers when they fell into arrears or...

Robert Bell

Jun 20, 2024

Financial Crime Guide Updates

The FCA’s consultation on amendments to its Financial Crime Guide - particularly to sanctions, transaction monitoring and proliferation...

Robert Bell

Jun 13, 2024

Consumer Duty Board Report: Don’t leave it too late

As we set out in our previous article on the subject “Writing your Consumer Duty Board Reports” the deadline for your first report is...

Robert Bell

May 30, 2024

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