FCA admits FSCS levy is unsustainable
Speaking at the Personal Investment Management & Financial Advice Association (Pimfa) Virtual Fest V2, FCA director of life insurance and financial advice Debbie Gupta the FCA admitted that admitted the […]
FCA starts criminal proceedings against NatWest Plc
On 16 March 2021, the FCA announced that it has commenced criminal proceedings against National Westminster Bank Plc (NatWest) in respect of offences under the Money Laundering Regulations 2007 (MLR […]
FCA confirms the increase in thresholds for contactless payments
The FCA has confirmed changes to its rules to allow for an increase in the single transaction contactless payment threshold from £45 to £100. The contactless threshold for multiple transactions […]
FCA update on support for consumers impacted by coronavirus
Mortgages The FCA’s Mortgages Tailored Support Guidance sets out its expectation that firms should not enforce mortgage repossessions, except in exceptional circumstances, before 1 April 2021. The FCA published updated […]
FCA Guidance for firms on the fair treatment of vulnerable customers
On 23 February 2021, the FCA finalised its guidance setting out its view on how firms should comply with their obligations under the FCA’s Principles for Businesses and ensure that […]
FCA Announcements on the end of LIBOR
On 5 March 2021, the FCA announced the dates that panel bank submissions for all LIBOR settings will cease, after which representative LIBOR rates will no longer be available. This […]
Technical negotiations concluded on the UK and EU Memorandum of Understanding (MoU)
On 26 March 2021, HMT announced that technical negotiations were concluded on the UK and EU MoU. HMT states that formal steps need to be undertaken on both sides before […]
FCA Supervisory flexibility on RTS 27 reports and 10% depreciation notifications
On 19 March 2021, the FCA announced it was extending the temporary measures in relation to the requirement for firms to issue 10% depreciation notifications to investors, which were put […]
FCA launches campaign to encourage individuals to report wrongdoing
On 24 March 2021, the FCA launched its campaign, ‘In confidence, with confidence’, encouraging individuals working in financial services to report potential wrongdoing to the FCA, and reminds them of […]
PRA’s business plan for 2020/2021
On 9 April 2020, the PRA published its business plan for the year ahead. The PRA confirms that it has had to reassess its plans in light of COVID-19 and […]