01 Mar 2023 38 min listen
The FCA's Consumer Duty regulation sets higher and clearer expectations for financial services firms, requiring them to put customers’ needs first.
As we creep up to the relevant phased deadlines for implementing the regulation, David Morrey and Ben Farmer look at key feedback, including Dear CEO letters for sectors, and multi-firm reviews. David and Ben also discuss financial hot topics, including: Buy Now Pay Later, crypto-consultation, the Financial Services and Markets Bill, and much more – sharing insight on how firms and consumers can prepare for the changes ahead.
FCA updates on pure protection, vulnerability in payments, rising whistleblowing cases, AI-driven investment risks, and T+1 readiness challenges.
Cryptoassets are becoming a more common feature of customer activity, exposing firms to new financial crime risks through onboarding, source of wealth assessments, sanctions reviews and transaction monitoring. This article explores how organisations can identify those exposures, investigate crypto-related activity and assess whether existing controls remain appropriate.
The Government's consultation on corporate reporting reform signals a shift towards more proportionate, investor-focused and digitally enabled reporting. Claire Fargeot explores the implications for narrative reporting, financial materiality, digital disclosures and governance, and what organisations should be considering as the review progresses.