A raft of changes to the UK immigration system – key things for you to know
Significant changes to the UK’s immigration rules have already come into effect this year, and it is expected there will be various other changes throughout the course of 2024. The majority of the changes reflect the Government’s 5-point plan to reduce net migration to the UK. On Thursday 9 May from 10am to 11am Alan […]
HM Treasury has published a paper outlining its approach to designating critical third parties (CTPs) to the UK financial services sector. Highlights of the paper include:
Written By Emma Radmore The NCA has updated its website in respect of:
Written by Emma Radmore The FCA has published its updated guidance on social media advertising. The guidance applies equally to firms and promotors, including influencers. It does not contain any new obligations, but is a reminder of regulatory expectations. It reminds firms that they need to make sure influencers who they work with communicate with their followers […]
Author: Emma Radmore Among the announcements relevant to regulated financial services in Jeremy Hunt’s budget are:
written by Lucy Hadrill The FCA has published the findings of its review of firms’ Consumer Duty implementation. The findings are split into six key areas and include examples of good practice and areas for improvement. Good practice – firms have: Areas for improvement: Separately, Sheldon Mills (FCA Executive Director of Consumers & Competition) has given a […]
Written by Vida Fatemi At FCA’s request, multiple insurance firms have agreed to pause sales of GAP insurance. These firms account for 80% of the GAP market. FCA is concerned that GAP insurance is failing to provide fair value to consumers. FCA’s latest fair value measures data showed that only 6% of the amount customers pay in […]
Conducting investigations, the new holiday pay rules and what’s in the pipeline
You are invited to join our employment law webinar on Thursday 14 March at 10am. This webinar is designed for in-house lawyers and HR professionals who want to stay updated on the latest developments and best practice in employment law. We will cover the following topics: The webinar will be delivered by our experienced solicitors […]
Written by Emma Radmore FCA has fined Floris Huisamen, former director of LCF, £31,800 and banned him. Mr Huisamen had signed off financial promotions that gave a misleadingly positive impression of the minibonds LCF marketed. He had been responsible for compliance at the firm, and had been appointed before the firm became authorised, so had been responsible […]
FCA had initially planned to publish its guidance how its financial promotion requirements apply to promotions on social media before Christmas, but has updated its website to say it now plans to publish the finalised guidance during Q1 2024. It consulted on the draft guidance in Summer 2023.
FCA asks advice firms for information on ongoing charges and Consumer Duty
Written by Emma Radmore FCA has asked 20 large financial advisory firms for information on whether, and if so how, they have assessed their delivery of ongoing services against the Consumer Duty. The survey follows on from a letter FCA sent to firms at the end of 2022 and probes whether firms are properly considering the relevance, […]
The BoE and Treasury response on the consultation paper on the possible introduction of a digital pound say that there has been no final decision on whether the UK will introduce a CBDC. The regulators will continue their work in exploring feasibility and design. In the meantime, the response confirms:
