Industry Newsletters

KEY THEMES+ ¦ DEMSA Summary

What you need to know this week Canada and Mexico announce retaliatory tariffs in response to new US import taxes. AstraZeneca cancels a £450m expansion due to reduced government support. Significant attention on welfare reform following pre-election promises with a focus on distinguishing genuine claimants from those gaming the system. Barclays resolves payment issues but continues updating customer bank balances. The FCA writes to claims management firms emphasising Consumer Duty compliance. The next Consumer Understanding challenges event is scheduled for… Read more

DEMSA Column: Portfolio letters / ICO / FCA updates / Key stats / Debt advice / Collaborations / Events

In today’s bulletin: General update Debunking data protection myths about AI FCA writes to claims management firms (CMCs) and other portfolio letters Intelligibility - Consumer Understanding - the next challenges - 27/2/2025 Priority Services Register (PSR) enrolment and safe data sharing Collaborations Events General update Where is our world heading as Canada and Mexico announce retaliatory tariffs after the US imposes 25% import taxes on goods from the 2 countries, as well as a 10% tax on China. AstraZeneca has… Read more

KEY THEMES+ ¦ DEMSA Summary

What you need to know this week The ICO emphasised AI's potential to contribute £47 billion annually to the UK economy and its role in fostering responsible innovation. Money mule activity cases rose by 11% in the first half of 2024, highlighting the need for robust financial crime policies. The FCA reported over 11.7 million active open banking users, with variable recurring payments (VRPs) enhancing consumer control over finances. StepChange December 2024 data showed “lack of control over finances” overtaking… Read more

DEMSA Column: Insolvency stats / Data protection update / FOS plans / Bailiffs / Vulnerability / Events

In today’s bulletin: General update Does your Financial Crime Policy cover Money Mules? FCA update on open banking including Variable Recurring Payments Customer vulnerability disclosures in the supply chain Scottish Debt Solutions - Q3 2024/25 Personal Insolvency statistics for 2024 FOS Strategic plans and budget Collaborations Events General update The BBC has reported that US President Donald Trump has said PM Sir Keir Starmer has done a "very good job thus far" and that the pair have a "very good… Read more

KEY THEMES+ ¦ DEMSA Summary

What you need to know this week UK economy grew by 0.1% in November 2024, but retail sales dropped 0.3% in December. ICAEW reports significant decline in business confidence, suggesting stagflation risks. FCA launched initiatives on AI and digital innovation, promoting safe AI usage in financial services. FSCS proposed a £103.6m management expenses budget for FY 2025/26, with consultation ongoing. Citizens Advice reported concerns over inappropriate IVA placements due to poor debt advice. Ofwat consultation on Priority Service Registers (PSR)… Read more

DEMSA Column: Economy / FCA Letter / IVA report / AI update / FSCS levies / Collaborations / Events

In today’s bulletin: General update Citizens Advice report – ‘How poor debt advice is pulling people into inappropriate IVAs’ Ofwat consultation on Priority Service Registers (PSRs) – responses, including DEMSA Collaborations Events General update As referenced before Christmas, don’t mention Tulips ahead of Spring. Tulip Siddiq has now resigned as a Treasury minister. Lord Mandelson has praised Trump ahead of his inauguration. The comments are a stark contrast to comments in 2019, when he called Trump a "danger to the… Read more