Enhancing Consumer Understanding: Practical Lessons from FCA Guidance and FG26/2
Consumer understanding remains a cornerstone of the Consumer Duty, requiring firms to ensure that communications enable customers to make effective, timely, and properly informed decisions. Recent FCA supervisory work on Consumer understanding, and in particular FG26/2 on good and […]
FCA PS26/2: Operational Incident and Third-Party Reporting
The Financial Conduct Authority (“FCA”), together with the Prudential Regulation Authority (“PRA”) and the Bank of England, have published Policy Statement (PS26/2), setting out final rules on reporting serious operational incidents and material third party arrangements. […]
Safeguarding Audit Standard – Version 1
The publication of the Financial Reporting Council’s (FRC) interim guidance on safeguarding audit engagements marks a pivotal moment for the UK payments and e-money sector. At its core, the guidance issued by the FRC is intended to […]
Strengthening Consumer Understanding in Financial Services
The UK financial services landscape continues to evolve under the Consumer Duty framework (PRIN 2A), with the Financial Conduct Authority (FCA) placing clear emphasis on ensuring customers have a sufficient […]
Professional Body Anti-Money Laundering Supervision (OPBAS) Report: Key Takeaways
The Office for Professional Body Anti-Money Laundering Supervision (OPBAS) has released its 2024/25 supervisory report, highlighting meaningful progress by the 25 Professional Body Supervisors (PBSs) overseeing over 41,400 legal and accountancy […]
FCA Enforcement Watch 1: Transparency, Priorities, and Global Coordination in 2026
The FCA’s first Enforcement Watch newsletter of 2026 outlines the current priorities of its enforcement function and clarifies how the regulator is implementing its revised publicity policy following the June 2025 updates to […]