Demsa

In today’s bulletin General update FCA Financial Lives ‘selected’ updates from 2022 survey Training Events General update    ONS stats show that the UK’s inflation rate has returned to 10.1% in September 2022 matching July’s 40-year high. Aside from consumer confidence, the Federation of Small Business has stated that confidence among small business owners has fallen to its lowest level since the Covid-19 lockdowns. Link: https://www.moneyadvicetrust.org/latest-news/no-let-up-in-sight-for-millions-of-households-as-inflation-rises-again/ Link: https://www.credit-connect.co.uk/news/more-than-600000-firms-in-financial-distress/ It comes as no surprise that The Bank of England did not… Read more

In today’s bulletin General update Gov-Debt review DRO update Insolvency statistics – September 2022 Product Development under FCA Consumer Duty (PS22/9), Principle 12 and PRIN 2A VRS Consumer Duty training on 17/10 and 31/10 Mixed message report from Amplified Global and StepChange Events General update I am not sure if anyone was running a sweepstake around the number of days in office at Number 11, but the answer is 38. We will now deal with the fallout of another U-turn… Read more

In today’s bulletin General update MaPS awards Data sharing DRO statistics StepChange ‘making ends meet’ report Scam alert Events General update The mortgage rate rises are already threatening a stagnation in house prices and a potential fall, which will be of concern to many homeowners going into 2023. The potential impact on essential expenditure is also of concern as both homeowners and private renters look at the impact of significant expenditure increases on their disposable income. Financial education, affordability tooling… Read more

In today’s bulletin General update FCA communications around Consumer Duty readiness StepChange and The Debt Charity August 2022 stats Events General update A disturbing week for most UK citizens with a very volatile economy and political climate that is not only impacting basic cost-of-living, but also key assets like pensions and house prices. I get a sense that the majority of us are bewildered around the lack of control we have over our own destiny. Tensions between new ministers and… Read more

General update Whilst the Bank of England delayed the inevitable announcement of interest rates rising again, the key question was by how much – 0.5% or 0.75%? It went up by 0.5% to 2.25% on 21 September 2022. Inflation is now quoted at 9.9% on the bank’s website. 5 members voted to raise Bank Rate by 0.5%, 3 members preferred to increase the rate by 0.75% and one member preferred to increase by 0.25%. The bank also confirmed that we… Read more

In today’s bulletin General update Consumer Duty MaPS open source SFS tool Fighting Financial Crime The Vulnerability Lens Lowell Financial Vulnerability infographic Events General update The confirmation of Liz Truss as new PM and the decisive action around energy pricing has been a significant event this week that looks to have been welcomed and seen as a major factor in addressing rising inflation. How this actually impacts businesses and consumers is being worked through, as many have flagged concerns for… Read more