The FCA has set out new best practice guidance for firms to do more to protect vulnerable customers, and ensure they are receiving positive outcomes. The first phase of the FCA consultation in July 2019 found that some...
Author - Andrew Graham-Smith
Andrew Graham-Smith
FCA Guide: Prepare Your Firm for Brexit
The Brexit transition period is currently operating until 31 December 2020. The FCA have produced a list of key considerations to help firms consider how they will be impacted by this and what action they may need to...
FCA to Ban Motor Finance Discretionary Commission Models
The FCA has announced that it will introduce a ban on discretionary commission models following a consultation in October 2019. As background, some car retailers and motor finance brokers receive commission which is...
HMT Payments Landscape Review – Call for Evidence
In light of recent developments in technology, HMT announced in June 2019 that it was leading a Payments Landscape Review. The first stage of this review, released today, is a Call for Evidence paper which sets out the...
EBA Consults on RTS for Indirect Subscription of MREL Instruments
Today, the EBA launched a public consultation on its draft RTS. The RTS is aimed at specifying the methods to avoid hampering the smooth implementation of the resolution strategy, where instruments indirectly subscribed...
FCA Launches New Register to Protect Consumers
Today, the FCA has launched its updated Financial Services Register. The FCA claim the redesign of the Register aims to help consumers protect themselves from harm and will provide a better experience for the...
Court rules “No DSS” unlawful under the Equality Act
York County Court has ruled that so called “no DSS” policies – which put in place a ban on renting property to people who are on housing benefit – are discriminatory and unlawful under the...
Enhancing Cross-border Payments – A Global Roadmap
Building on the FSB’s report published in April this year, the Committee on Payments and Market Infrastructures released its Stage 2 report. This report aims to identify the building blocks with which a roadmap...
COJ Rulings on Unfair Contract Terms in Consumer Credit Agreements
The following are summaries of two recent Court of Justice of the European Union judgements. Both concern interpretation of the unfair contract terms provisions found in Council Directive 93/13/EEC as concern terms of...
Basel Committee updates on Regulatory Framework Adoption
BIS has recently published a report from its Basel Committee. It provides an update to the October 2019 report on the adoption of Basel Standards across each BCBS member jurisdiction as of May 2020. The Committee note...