Compliance Insights Articles

In this article, we’ll take a look ahead at the upcoming regulatory changes over the next nine months of 2019. In the last two years, firms have dealt with significant new legislative and regulatory rules and guidance, including the Dear CEO letter regarding complaints, the new Pre-action Protocol for Debt Claims, the new rules around Remuneration and Staff Incentives, new rules on Creditworthiness Assessments, and GDPR. Depending on the type of firm, your firm may be embeddi

While most firms need either limited or full permission in order to be able to carry out regulated consumer credit activities, there are some exceptions. When the Financial Conduct Authority replaced the previous regulatory regime on 1 April 2014, all firms carrying on regulated consumer credit activities had to be either authorised, granted interim permission, or be exempt under Part 20 of the Financial Services and Markets Act 2000. Firms relying on Part 20 exemption – refe

As you may be aware, the government’s response to HM Treasury’s September 2016 consultation on amending the definition of financial advice was recently published, in which it was noted that the majority of respondents agreed the proposed definition was simpler and broadly supported the change. Resultantly, the government has decided to proceed with the change to the definition of financial advice for regulated firms. Background To recap, one of the recommendations of the Fina