Welcome to the UKGI weekly regulation update service for Aviva ABC brokers

Link(s):Consumer Support Outcome: good practices and areas for improvement | FCA Context This review report sets out the findings of an FCA review of firms’ approaches to the Consumer Support outcome of the Consumer Duty.  The FCA wants firms to provide a level of...

Link(s): Update on the FCA’s enforcement transparency proposals | FCA Our letter to the Treasury Select Committee on the FCA's enforcement work and diversity & inclusion Context The FCA has announced that it has written to the Treasury Select Committee, setting...

Link(s): Statement on motor finance review next steps | FCA Context The FCA has published a statement confirming that, if it is shown that motor finance customers have lost out from widespread failings by authorised firms, it is likely to consult on a formal industry...

Link(s): Approved persons | FCASenior management functions | FCAPrepare to apply for a senior manager function | FCAApply for a senior management function | FCACase studies: applying for a senior management function | FCAHow we assess senior management function...

Link(s):Vulnerable customers encouraged to open up to firms to get the right support | FCAFirms' treatment of customers in vulnerable circumstances – review | FCADelivering good outcomes for customers in vulnerable circumstances – good practice and areas for...

Link(s):FCA bans former Credit Suisse executives following US criminal convictions | FCA Final Notice 2025: Andrew Pearse Final Notice 2025: Surjan Singh Final Notice 2021: Credit Suisse International, Credit Suisse Securities (Europe) Ltd, and Credit Suisse AG...

Link(s):Whistleblowing quarterly data 2024 Q4 | FCA Context The FCA has published its Q4 2024 Whistleblowing data, covering October to December 2024.  The data shows the number of new whistleblowing reports received and the number of existing reports closed during the...

Link(s):Final Notice 2025: David Robert Cooke Context The FCA has published a Final Notice confirming that a former Director of and CF1 Approved Person at an insurance broker, Professional Construction Risks Limited, has been banned from holding any future Senior...

Link(s):Skilled person reviews | FCANumber of Skilled Persons Reports commissioned in 2024/25 Q2 (1 July – 30 September 2024)Number of Skilled Persons Reports commissioned in 2024/25 Q3 (1 October – 31 December 2024) Context The FCA has updated its Skilled Persons...

Link(s):Consumer Duty – information for firms | FCA Context The FCA has updated its Consumer Duty – information for firms web page to confirm that from 27 February 2025 it no longer expects firms to have a Consumer Duty Board champion.  Following The FCA CEO’s...

Link(s):The Gordian knot of growth | FCA Context Nikhil Rathi, FCA Chief Executive, has delivered a speech at an Association of British Insurers (ABI) roundtable event at which he has spoken about how the FCA is working to support growth.  The tone of the speech...

Link(s):Email management at the FCA: setting the record straight | FCA Context The FCA has received recent criticism over a decision to carry out a ‘mass delete event’ and delete any e-mails from staff inboxes which are more than a year old.  In this blog, the FCA’s...

Link(s):FCA Authorisations operating service metrics 2024/25 Q3 | FCAFCA Authorisations operating service metrics Q3 2024/25 Context In publishing its latest Authorisations Division operating service metrics, the FCA has said that it wants “…to make sure the UK is the...

Link(s):Lords report concludes that naming and shaming is not the way to regulate - UK ParliamentNaming and shaming: how not to regulate Context The House of Lords Financial Services Regulation Committee, which was reappointed by the House of Lords on Monday 29 July...

Link(s):FCA steps up action against misleading financial adverts | FCA Financial promotions data 2024 | FCAFinancial promotions quarterly data 2024 Q4 | FCA Context The FCA has published its Q4 2024 financial promotions data, and analysis and insights in relation to...

Link(s):Culture is contagious | FCA Context The FCA has published a speech delivered by Emily Shepperd, FCA Chief Operating Officer, at the 10th Annual Culture and Conduct in Financial Services Summit.  Picking up a similar theme to the Portfolio letter sent this...

Link(s):Portfolio letter: FCA priorities for payments portfolio firms Context The FCA has published a Portfolio Letter in which it sets out its expectations in relation the importance of governance, oversight and leadership in helping achieve good outcomes.  Although...

Link(s):The FCA and Practitioner Panel joint survey for 2025 launches | FCA Context The FCA has announced that its latest Practitioner Panel survey is being sent to all regulated firms so they can share their feedback on how the FCA regulates the industry.  The...

Link(s):Reframing our relationship with risk: consumer-led sustainable growth | FCA Context The FCA has published a speech delivered on 22nd January 2025 by Emily Shepperd, FCA Chief Operating Officer, at the 2025 Risk Leader Summit, hosted by the Professional Risk...

Link(s):My FCA | FCA Context My FCA will provide firms with a single point of sign in, using existing FCA user details, for Connect, RegData and their page on the Register. Once signed in, firms will be able to see all their regulatory reporting and attestation tasks,...

Link(s):Financial Conduct Authority places restrictions on Arthur Temlett | FCAArthur Temlett Context The FCA has taken preventative action by stopping Arthur Temlett, trading as Abacus Insurance Consultants, from carrying out any regulated activities (see the First...

Link(s):FCA response to Government call for regulators to support growth | FCAFCA letter on a new approach to ensure regulators and regulations support growth Context The FCA has announced that Nikhil Rathi, the FCA Chief Executive, has written to the Prime Minister...

Link(s):CBA Panel Annual Report AR Context The FCA’s Cost Benefit Analysis Panel has published its Interim Annual Report covering the period May to September 2024, its first five months of operation.  This first report sets out the background to the use of cost...

Link(s):Redress liabilities: an update for firms | FCA Context The FCA has published a web page titled ‘Redress liabilities: an update for firms’ about what firms should and should not do to tackle polluting behaviour and meet their redress liabilities. Polluter...

Link(s):Report fee tariff data | FCAFee tariff data: Regulatory fees and levies 2025/26: Fee-blocks A019 and I017Consumer credit income – what to report | FCAFee tariff data: Regulatory fees and levies 2025/26: Fee-blocks A023 and I025 - funeral plan providers and...

Link(s): FCA objects to Change in Control due to failures to meet standards | FCAFinal Notice 2024: Mr Ahmed Context The FCA has issued a Final Notice objecting to the proposed acquisition of Olampicaran Limited (Olampicaran) by Mr Ahmed. Mr Ahmed failed to notify and...

Link(s): CP25/1: Financial Services Compensation Scheme – Management Expenses Levy Limit 2025/26 | FCACP25/1: Financial Services Compensation Scheme – Management Expenses Levy Limit 2025/26 Context The FCA has published its annual Consultation, in conjunction with the...

Link(s):FCA response to the independent panels’ 2023/24 annual reports | FCA Context The FCA has six independent statutory panels. They represent the interests of consumers, regulated firms and markets and the FCA is required to consult with them on the...

Link(s):Unacceptable behaviour policy | FCA Context The FCA has updated its web page in relation to its Unacceptable Behaviour Policy, which focuses on what it sees as unacceptable behaviour on the part of those individuals who engage with the FCA (so consumers or...

Link(s):Wider Implications Framework minutes November 2024 Wider Implications Framework issues log – November 2024 Context The FCA has published the minutes of the latest Wider Implications Framework Executive Level Meeting, and an updated log of live Wider...

Link(s):handbook-notice-125.pdfCP24/11: Quarterly Consultation Paper No. 44CP23/23: Prudential assessment of acquisitions and increases in control | FCA Context The FCA has published Handbook Notice 125, which amongst other things formally introduces a change to...

Link(s): Communicating with motor finance customers about commission | FCA Context Alongside its latest Policy Statement in relation to handling motor finance commission complaints, the FCA has set out its expectations going forward for firms communicating with motor...

Link(s): FCA responds to High Court motor finance judicial review decision | FCAClydesdale Financial Services Ltd, R (on the application of) v Financial Ombudsman Service Ltd - Find Case Law - The National Archives Context The High Court of Justice, King’s Bench...

Link(s): CP24/28: Operational Incident and Third Party Reporting | FCACP24/28: Operational Incident and Third Party Reportingincident-reporting-fields-document.xlsx Context The FCA has published a Consultation Paper CP24/28 in relation to reporting operational...

Link(s):Our Consumer Duty focus areas | FCA Context The FCA has published a new web page setting out its priorities under the Consumer Duty for the remainder of 2024/25. The web page includes a short description of the work and anticipated timelines.  As part of...

Link(s):FCA statement on Supreme Court motor finance announcement | FCAAnnouncement from UK Supreme Court - UK Supreme Court Context The FCA has welcomed the swiftness of the Supreme Court's decision to hear an appeal against the Court of Appeal's judgment in three...

Link(s):Our perimeter report | FCA Context The FCA has published an updated version of its Perimeter Report. The FCA’s ‘perimeter’ is the line between what it does and does not regulate. The report describes specific issues the FCA sees around its perimeter and action...

Link(s):Complaints and root cause analysis: good practice and areas for improvement | FCA Context Alongside the Consumer Duty Board Reports findings, the second of two Consumer Duty-themed reports sets out good practice and areas for improvement in relation to...

Link(s):Consumer Duty Board Reports: good practice and areas for improvement | FCA Context The FCA has published two further Consumer Duty good and poor practice reports, as part of its ongoing efforts to help firms embed the Duty and provide more clarity on its...

Skilled person reviews | FCA Number of Skilled Persons Reports commissioned in 2024/25 Q1 (1 April – 30 June 2024) The FCA has published the April to June 2024 Skilled Persons reports data. If the FCA is concerned about aspects of a regulated firm's activities or...

Link(s):Letter to Supreme Court: support for application for expedition Context The FCA has written to the Supreme Court encouraging it to make a speedy decision on whether to allow an appeal by two of the lenders in relation to the Court of Appeal judgement in this...

Link(s):PS24/17: Financial Crime Guide updates | FCAPS24/17: Financial Crime Guide changesHandbook Notice 124 Context The FCA has published a Policy Statement introducing changes to the FCA’s Financial Crime Guide.  Handbook Notice 124, sets out the specific...

Link(s):CP24/25: Regulatory fees and levies: policy proposals for 2025/26 | FCACP24/25: FCA fees and levies: policy proposals 2025/26 Context The FCA has published its first Consultation in the 2025/26 fees and levies round of Consultations, proposing changes to the...

Link(s):Inclusive growth: laying foundations, seizing innovations | FCA Context Sarah Pritchard is the Executive Director of Supervision, Policy and Competition – Markets and Executive Director, International, at the FCA. Pritchard gave a speech at The Investment and...

Link(s):FCA Speech - Setting the foundations for our future strategy Context Emily Shepperd, FCA Chief Operating Officer, gave a speech delivered at TheCityUK’s National Conference in Birmingham, setting out the FCA’s new five-year strategy. Key points to note and...

Link(s):FCA calls for firms to improve bereavement handling times and shares best practice | FCAFindings of our multi-firm review of life insurers’ bereavement claim process | FCA Context As outlined in its Life insurance portfolio letter: insurance market priorities...

Link(s):FCA seeks further views on enforcement transparency proposals | FCACP24/2, Part 2: Greater transparency of our enforcement investigations | FCACP24/2, Part 2: Greater transparency of our enforcement investigations Context The FCA has published what it is...