2. Given the infancy of the Consumer Duty routine, the practical affect of those amendments continues to be to generally be seen.
CONC 5C.3 Fascination costs for unarranged overdrafts to get no more than the desire costs for organized overdrafts
Comprehend the nature and scale of attributes of vulnerability that exist in their target market place and purchaser foundation.
UKLR 6 Annex 1R Info around the diversity of the people today over a mentioned firm’s board and in its executive administration
It goes on to claim that current buyer security law, including the guidance revealed with the Promoting Requirements Authority as well as Competitors and Markets Authority, as well as FCA Concepts six, seven, and 12, can apply to sustainability-connected claims that a firm may make about itself as being a firm.
This Guidance will not produce new obligations for many who boost economical services and products on social media marketing. It suggests how they might method complying with their present regulatory obligations.
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The FCA confirms that corporations aren't expected to monitor workforce’ non-public life but ought to act exactly where they grow to be aware about credible info that would phone Physical fitness into issue. Companies would generally depend on formal conclusions (such as tribunal decisions or regulatory sanctions) when creating these judgments.
This potentially imposes an exceptionally higher compliance load on companies who would like to brand them selves as sustainably targeted.
Below Action one, corporations ought to look at things including the demand for and capacity of existing solutions, along with the journey time and value to possibilities in an outlined area area.
Carry out proper procedures To judge the place they may have not met the desires of susceptible customers, so they can make improvements.
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FG 25/three underscores the FCA’s dedication to the proportional, risk-primarily here based method of AML controls that treats domestic PEPs relatively when keeping sturdy defences versus illicit finance.
The FCA revealed final regulations and guidance on 24 July 2024, creating a fresh regulatory routine to maintain sensible access to funds for individuals and corporations in the UK.