Consumer Duty

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Regulation

FCA's Consumer Duty Adds Costs, Making London the Most Demanding Market for Retail Firms

More than a year after its implementation, the new rules increased compliance costs by 25% in some cases.
However, the regulator lacks a broker monitoring system, making it hard to track if firms move to less regulated markets.

Thursday, 19/12/2024 | 08:46 GMT by Paul Golden

Retail FX

Consumer Duty Impacted 85% of The UK Advisers, Study Shows

The report highlights the profound impact of Consumer Duty regulations.
It also shows decreased satisfaction with existing platforms and a strategic shift towards richer clients.

Thursday, 23/05/2024 | 08:56 GMT by Damian Chmiel

Retail FX

How Financial Firms Are Handling New Consumer Duty Rules: FCA Investigates

Regulator investigates UK financial advice firms for Consumer Duty compliance.
It sent a survey to the 20 biggest advice companies in the country.

Thursday, 15/02/2024 | 09:44 GMT by Damian Chmiel

Retail FX

FCA Cancels 1,266 Unauthorized Firms, Imposes Record Fines in 2023

FCA intensifies actions against misleading financial ads and unauthorized firms in the UK.
Record fines and firm cancellations mark FCA's robust approach to protect consumers.

Thursday, 28/12/2023 | 14:10 GMT by Damian Chmiel

Retail FX

'Double Dipping': FCA Wants Investment Platform to Cease the Controversial Practice

Many investment firms retain interest in customers' cash balances and charge fees for cash management.
UK firms have until 29 February to address the issues raised by the FCA.

Tuesday, 12/12/2023 | 08:20 GMT by Arnab Shome

CryptoCurrency

FCA Unveils Fresh Guidance amidst Crypto Marketing Turmoil in the UK

The new crypto marketing rules have been in effect in the UK for a month.
Many firms still fail to meet the requirements, so the FCA is publishing new guidance.

Thursday, 02/11/2023 | 13:31 GMT by Damian Chmiel

Retail FX

Consumer Duty Comes into Effect in the UK

Consumer duty rules for products and services that are open for sale and renewal have become effective.
A survey found that a third of the firms would not fully comply with the rules by the deadline.

Monday, 31/07/2023 | 06:01 GMT by Arnab Shome

Retail FX

Weekly Poll: Do the Long-Term Benefits of UK Consumer Duty Outweigh Short-Term Costs?

Catch this week's poll on Finance Magnates' Linkedin.
Industry execs last week overwhelmingly supported multiple licenses among brokers.

Tuesday, 04/07/2023 | 11:11 GMT by Finance Magnates Staff

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