Tag Archives: thematic review

FCA publishes financial crime e-money review

FCA has published its Thematic Review into money laundering and terrorist financing risks in the E-money sector. Its review covered 13 firms and focused on e-money products including prepaid cards and digital wallets, but not money remittance services or any services that fall outside FCA’s regulatory remit (such as exempt cards). FCA found the firms […]

FCA thematic review on credit broking remuneration models

The FCA has published its thematic review on the impact of credit broking remuneration models at the point of sale. The thematic review covered a wide variety of credit brokers offering loans or finance provided by a third party. In its 2017/2018 Business Plan, the FCA set out its intention to focus on inter-firm remuneration […]

FCA announces life insurance investigation outcome

FCA has confirmed it has closed its remaining investigations into life insurers, following its thematic review into the fair treatment of longstanding customers in the life insurance sector. FCA has already closed investigations into some of the firms within its study and has now concluded no further action is needed in respect of the last […]

Themes from thematic reviews

We recently wrote an article for Compliance Monitor setting out themes from recent FCA thematic reviews.

FCA begins debt management sector review

In line with its 2017/18 Business Plan, FCA has begun its thematic review of the debt management sector. FCA has taken a particular interest in this sector, owing to the increased risks faced by (particularly vulnerable) consumers where firms fail to meet their needs. In 2014, FCA declared that debt management firms needed to “raise their game” if they […]

FCA Regulation Round-Up for July

The FCA published its July edition of Regulation Round-Up this week.  Highlights of some of the “hot topics” covered include: interim report of the FCA’s Retirement Outcomes Review; the publication of the final report on its asset management market study; the publication of the MiFID II policy statement and consultation paper VI; first undertaking received under […]

FCA’s follow up work general insurance on appointed representatives

Following its 2016 thematic review, FCA has undertaken follow up work and  visited 20 principal firms, focusing on London market insurance intermediaries that had diversified and developed networks of appointed representatives (ARs). The FCA found that issues in the thematic review existed in a wider sample of firms including: Widespread failings in principals’ oversight of their […]

FCA speaks on retail banking regulation

Andrew Bailey has spoken at BBA’s retail banking conference on FCA’s perspective on retail banking. He highlighted 3 points: the importance of understanding business models, in the light of Northern Rock. FCA needs to understand where banks earn their returns and how stable they are. He noted that, before the financial crisis, the pressure was […]

FCA publishes arrears management review

FCA has published its thematic review report on early arrears management in unsecured lending. The report sets out how the FCA conducted the review, its findings and, where relevant, how firms are currently meeting the relevant rules and guidance. Key findings include the following: For customers showing signs of financial difficulty, the FCA found that […]