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Archive

FCA quarterly data – financial promotions

Link(s): https://www.fca.org.uk/data/financial-promotions-and-adverts/financial-promotions-quarterly-data Context The FCA undertakes many reviews of firms’ financial promotions. Financial promotions for review are identified through multiple sources including both...

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FCA article on corporate culture

Link(s): https://www.fca.org.uk/insight/corporate-culture-grasping-ungraspable Context The FCA has released an article in its Insight newsletter which explores the concept of measuring culture. The article provides an interesting take on how the FCA views culture...

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Financial Ombudsman publishes Ombudsman News: Issue 159

Link(s): https://www.financial-ombudsman.org.uk/news-events/ombudsman-news-159 Context FOS published Ombudsman News issue 159 on 31st March. Key points to note FOS has published its:2021/22 Plan and Budget2020 diversity, inclusion and wellbeing reportFOS Easter...

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Financial Ombudsman publishes plans and budget for 2021/22

Link(s): https://www.financial-ombudsman.org.uk/news-events/our-plans-and-budget-for-2021-22 Context FOS has published its final plans and budget for 2021/22, following consultation in December 2020. Key points to note The document sets out that, in the year to the...

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FCA to issue a further round of Covid-19 impact surveys

Link(s): https://www.fca.org.uk/news/statements/coronavirus-covid-19-financial-resilience-survey#revisions Context The FCA launched the first phase of the Covid-19 impact survey in June 2020. The survey was repeated in late 2020 and at the beginning of 2021. The FCA...

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CMA publishes Annual Plan 2021 to 2022

Link(s): https://www.gov.uk/government/news/cma-publishes-annual-plan-2021-to-2022 Context The CMA has published its Annual Plan for 2021 to 2022, which sets out its key priorities for the year ahead. This comes as the CMA takes on additional responsibilities for...

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ICO’s plans for updating anonymisation guidance

Link(s): https://ico.org.uk/about-the-ico/news-and-events/news-and-blogs/2021/03/building-on-the-data-sharing-code-our-plans-for-updating-our-anonymisation-guidance/ Context The sharing of personal data while a risk, is key to mapping trends, providing insights to...

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FCA to launch new Online Fees Portal

Link(s): https://www.fca.org.uk/firms/fees-and-levies/new-online-fees-portal#:~:text=We%20are%20launching%20a%20new,available%20after%2031%20March%202021 Context The FCA has confirmed that, as part of the systems upgrade programme to improve efficiency, a new online...

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FCA updates its policy development web page

Link(s): Policy development update Context The policy development update provides information on the FCA’s recent and upcoming publications but should not be regarded as comprehensive. The FCA usually updates this page on the first Friday of each month – this...

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FCA starts criminal proceedings against NatWest Plc

Link(s): FCA starts criminal proceedings against NatWest Plc | FCA Context The FCA has announced that it has commenced criminal proceedings against National Westminster Bank Plc (NatWest) in respect of offences under the Money Laundering Regulations 2007 (MLR 2007)....

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FOS publishes its latest complaints data

Link(s): https://www.financial-ombudsman.org.uk/news-events/weve-published-latest-complaints-data-products-individual-businesses Context The FOS has published data showing the number of complaints received between 1 October and 31 December 2020. It has also published...

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The Budget 2021: the ABI’s response

Link(s): The ABI comments on the 2021 Budget Context The Chancellor of the Exchequer delivered the Budget 2021 on 3rd March.  Commenting on the launch of Green Savings Bonds and measures to stimulate green investment, Huw Evans, the ABI’s Director...

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ABI comments on the publication of the Whiplash reforms

Link(s): ABI comments on the publication of Statutory Instruments to amend Civil Procedure Rules and introduce Whiplash Tariffs Context Commenting on the publication of Statutory Instruments to amend Civil Procedure Rules and introduce Whiplash Tariffs, Mark Shepherd,...

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FCA publishes details of fines levied in 2020

Link(s): FCA Fines 2020 Context During the calendar year ending 2020, the total amount of fines imposed by the FCA reached over £192m. This included a £48,308,400 fine for Goldman Sachs for breaches related to wholesale conduct in the investment bank sector and a...

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ICO launches data analytics toolkit

Link(s): https://ico.org.uk/about-the-ico/news-and-events/news-and-blogs/2021/02/ico-launches-data-analytics-toolkit/ Context The ICO is urging all organisations considering using data analytics on personal data to look at its new toolkit which can be found here:...

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Reminder: Individual Conduct Rules deadline 31st March 2021

Link(s): https://www.fca.org.uk/firms/senior-managers-certification-regime/solo-regulated-firms Context UKGI would like to remind firms that the date on which the Individual Conduct Rules come into force for staff other than Senior Managers and Certification staff, is...

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FCA issues update following scam RegData emails

Link(s): https://www.fca.org.uk/consumers/avoid-scams-unauthorised-firms/fake-fca-emails-letters-phone-calls#revisions Context The FCA has confirmed that it has received reports of scam emails claiming to be from RegData (data collection platform) which appear to...

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FCA publishes findings from Financial Lives 2020 survey

Link(s): https://www.fca.org.uk/publications/research/financial-lives-2020-survey-impact-coronavirus Context Financial Lives, the FCA’s flagship survey of UK consumers, provides a wealth of information about consumers’ attitudes towards managing their money, the...

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ICO: Data Protection Practitioners Conference 2021 (DPPC)

Link(s): https://ico.org.uk/about-the-ico/news-and-events/events-and-webinars/data-protection-practitioners-conference-2021/ Context The ICO has announced the DPPC will take place on Wednesday 14th April 2021.  The event will be held digitally and there is no charge...

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FCA sets out approach to international firms

Link(s): https://www.fca.org.uk/news/press-releases/fca-sets-out-its-approach-international-firms Context The FCA has published its approach to the authorisation and supervision of international firms.  The publication...

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Reminder to register for RegData

Link(s): https://www.fca.org.uk/firms/regdata#revisions Context The FCA has issued a reminder to firms that all Principal Users must ensure that they, and all other firm users, are registered for the new data collection platform (RegData) ahead of a firm's planned...

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Blog: maintaining data flows for a digital world

Link(s): https://ico.org.uk/about-the-ico/news-and-events/news-and-blogs/2021/01/maintaining-data-flows-for-a-digital-world/ Context The ICO has published a blog on maintaining data flows for a digital world, where the Information Commissioner looks at the data...

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FOS Ombudsman News 157

Link(s): https://www.financial-ombudsman.org.uk/news-events/ombudsman-news-157 Context FOS published its latest Ombudsman News on 25th January. Key points to note This issue includes its strategic plans and budget for this financial year as well as access to reports...

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FCA passporting in and out of Gibraltar

Link(s): https://www.fca.org.uk/firms/passporting/gibraltar Context The FCA has issued guidance for firms which may wish to passport in and out of Gibraltar. Under current UK legislation, firms in the UK and Gibraltar can apply for a passport if they wish to provide...

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Dormant Asset Scheme to include insurance and pensions

Link(s): https://www.abi.org.uk/news/news-articles/2021/01/dormant-asset-scheme-to-include-insurance-and-pensions Context The Association of British Insurers (ABI) has published an article in relation to the Government’s announcement that the Dormant Asset Scheme will...

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FCA publishes information on the fines issued in 2020

Link(s): https://www.fca.org.uk/news/news-stories/2020-fines Context The FCA has published details of the individual fines which it imposed in 2020 with a total amount of £192,570,018 of fines issued.   Key points to note 11 individual fines are listed, totalling...

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FCA repeats Covid-19 financial resilience survey

Link(s): https://www.fca.org.uk/news/statements/coronavirus-covid-19-financial-resilience-survey Context The FCA has announced it will be repeating its financial resilience survey for a third time to enable further understanding of the change in firms' financial...

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FCA publishes coronavirus resilience survey data

Link(s): https://www.fca.org.uk/news/press-releases/fca-publishes-coronavirus-financial-resilience-survey-data Context The FCA has published the results of its Covid-19 resilience surveys which were sent to 23,000 solo-regulated firms.  The results of the surveys can...

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FOS consults on 2020/21 plan and budget

Link(s): https://www.financial-ombudsman.org.uk/news-events/consultation-opens-strategic-plans-budget-2021-22 Context The Financial Ombudsman Service (FOS) is consulting on its plan and budget for 2021/22.  The consultation which can be accessed here...

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ICO publishes new data sharing code of practice

Link(s): https://ico.org.uk/about-the-ico/news-and-events/news-and-blogs/2020/12/ico-publishes-new-data-sharing-code-of-practice/ Context The ICO has issued its data sharing code of practice providing practical advice to businesses and organisations on how to carry...

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