Related topic: Regulation

The FLA has submitted its consultation response on FCA’s motor finance redress scheme, calling for a "fair, targeted and workable solution".

The proposals form part of the FCA’s Mortgage Rule Review.

The regulator has confirmed that it will not move forward with 'enhanced advice' proposals.

The rules set clearer standards for how financial services firms should address non-financial misconduct. 

35% of lenders think regulatory scrutiny will ease over the next year.

The regulator has confirmed that it will simplify mortgage rules for first-time buyers.

In one case, Nationwide failed to identify a customer using personal current accounts to receive £27.3m in fraudulent Covid furlough payments.

Advisers expect two thirds (66%) of their clients to be affected and will require IHT advice.

As targeted support is a one-off service, it does not involve ongoing suitability assessments. 

Firms are being urged to review their systems as new guidance sets the standard for customer vulnerability management.