By Aaron Nicodemus2024-07-30T19:11:00
The U.K. Financial Conduct Authority (FCA) is asking for input on which of its existing rules for financial services overlap with the year-old consumer duty rule, with an eye toward streamlining and simplifying both rule packages.
Last year, consumer duty obligations took effect for U.K. financial services firms, setting higher standards of consumer protection for customers buying financial products and services.
The FCA has launched a review and would like to hear from member firms about which FCA rules can be removed or reduced because they overlap with the consumer duty rule. The goal is to reduce burdens and promote growth, the agency said.
2024-10-02T18:22:00Z By Aaron Nicodemus
The U.K.’s Financial Conduct Authority fined Starling Bank, Britain’s first digital bank, nearly 29 million pounds (U.S. $38.5 million) for repeated failures related to onboarding high-risk customers.
2024-08-15T17:44:00Z By Ruth Prickett
The U.K Financial Conduct Authority published findings showing that financial services firms are implementing its guidance on politically exposed persons related to anti-money laundering inconsistently, with experts warning firms of reputational damage arising from potential enforcement.
2024-07-18T20:39:00Z By Aaron Nicodemus
The U.K.’s Financial Conduct Authority asked banks and financial institutions “to do more” to ensure that U.K lawmakers and their families are not treated unfairly.
2025-07-26T02:15:00Z By Neil Hodge
Plans to push audit firms to disclose how they use AI in audits have been broadly welcomed, but concerns remain over how corporate data is used, secured, retained, and potentially exposed.
2025-07-25T23:17:00Z By Adrianne Appel
SEC Chair Paul Atkins is soliciting candidates for all five seats on the Public Company Accounting Oversight Board, he announced Wednesday.
2025-07-24T17:15:00Z By Ruth Prickett
The U.K. government promised to introduce Sustainability Reporting Standards in its manifesto. Almost a year after it came to power, it launched a consultation on June 25 on draft plans for these standards, which are largely based on those of the ISSB.
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