In today’s bulletin:
General update
Consumer Understanding under the Consumer Duty
FCA has found that financial advisers are delivering suitability reviews
Collaborations
FCA vulnerability event on 11/3/2025
General update
I have steered
FCA February 2025 Regulatory Round-up - Duty Champions
I have posted that the FCA has published its February 2025 regulatory round-up, which includes the launch of MyFCA and confirmation that the FCA no longer expect firms to have a Consumer Duty Board Champion. This follows the FCA letter to the government in January 2025.
Now the Duty is in full effect, the FCA want to give firms greater flexibility on their ongoing governance arrangements. Firms are free to retain the role should they wish to do so. They will take steps to update FG22/5 to reflect the new position in due course.
Firms in the debt solution sector may feel that the 'flexibility' is subject to great scrutiny at present, with multiple concurrent data requests and surveys. DEMSA has p...
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