| Link(s): | Wider Implications Framework Annual Report 2023/24 (fca.org.uk) Wider Implications Framework | FCA |
Context
The Wider Implications Framework supports effective and structured collaboration and cooperation on issues with wider potential impact across the financial services industry, helping the members deliver better outcomes for consumers, firms and the financial services sector. The framework’s members are the Financial Conduct Authority (FCA), the Financial Ombudsman Service (Ombudsman Service), the Financial Services Compensation Scheme (FSCS), the Money and Pensions Service (MaPS) and the Pensions Regulator (tPR)
Key points to note and next actions
This is the second Wider Implications Framework Annual Report, which covers the period 1 January 2023 to 31 March 2024.
The themes of this report cover achievements in the areas the framework’s members have worked and collaborated on, which are:
- Sharing data, insight and expertise to inform decision making
- British Steel Pension Scheme consumer redress scheme
- Motor finance commission
- Consumer Duty
- Cost-of-living crisis
- Joint engagement activities
- Consumer Duty
- British Steel Pension Scheme consumer redress scheme
- Improving the consumer journey
- British Steel Pension Scheme consumer redress scheme
- Self-invested personal pensions (SIPPs)
- Ensuring fairness and consistency across markets
- Discretionary commission arrangements in the motor finance market
- The treatment of customers in financial difficulty