| UK & Europe | Publications
NEWSLETTER: The FCA has released its first review of complaints since the inception of the Consumer Duty, homing in on the effectiveness of firms’ governance, management information, and root cause analysis. As well as identifying some areas of good practice, the findings provide some clear steps for all firms to take on complaints.
Non-financial misconduct was also discussed by the FCA Chair in a letter to the Treasury Select Committee this month, highlighting the continued importance of fitness and propriety for senior managers. We identify some common pitfalls for firms to avoid when assessing fitness and propriety.
We have also had a further look at the SDR and Investment Labels regime this month. Now nearly a year since the new rules were bedded in, now seems the right time to take stock of where you are against the existing rules and expectations, as well as mapping out where follow up action might be needed.
Meanwhile, effective compliance monitoring programmes remain a crucial way for businesses to stay on top of regulatory obligations. With some clear guidance of travel from the FCA, the payments and e-money sector are encouraged to re-evaluate their governance, oversight, and risk management setups to grow successfully. We’ll also be running a sector-agnostic webinar on how to create an effective compliance monitoring plan for smaller firms, so please sign up here if you would like to join us for that.
Lastly, the GFSC has kicked off a conflicts of interest thematic review, collecting data on existing practices, which included on-site visits and interviews with key stakeholders, so watch this space!
If you haven’t already, go ahead and register your space for our upcoming regtech showcase with Ocorian and risk and compliance experts Grand for some advice on keeping your governance framework airtight. We’re also proud to be sponsoring and speaking at the PIMFA CASS Academy 2025 about approaching requirements and facing audit challenges.
If you want to discuss any of these updates or events, feel free to get in touch.
Rebecca Thorpe, Global Head of Regulatory Consulting
