Summary – Read the full update here (including all the links & more)
In the latest DEMSA update, notable developments in the financial sector and advancements in Consumer Duty implementation are highlighted. The update covers a wide array of topics, from acquisitions in the energy market to regulatory interventions, debt advice, and gambling reform.
- Octopus’s acquisition of Shell’s household energy business and broadband services.
- Trends in working households, workless households, and employment statistics.
- Analysis of UK spending on credit and debit cards.
- FCA’s interventions, regulatory round-up, and efforts to combat financial fraud.
- MaPS’s findings on deficit budget clients and debt solutions.
- Insights into bulk communications and email data breach risk.
- HM Treasury’s consultation on banning cold calling in financial services.
- Impact assessment of private parking charges and debt recovery fees.
- Major gambling reform and its implications for player protection.
- Noteworthy events and conferences related to Consumer Duty and debt management.
- 59.1% of UK households had all members aged 16 and over employed in Q2 2023.
- 27.2% of households had a mix of working and workless adults during the same period.
- 13.7% of households had no employed members in Q2 2023.
- 19% of BNPL customers used it for essential items like groceries and bills.
- William Hill fined over £19m for failures related to customer spending.
- The financial sector is experiencing transformative changes impacting various industries.
- Ongoing Consumer Duty implementation demands attention from industry players.
- Effective data protection and communication strategies are crucial in financial services.
- Challenges arise with deficit budget clients, driving the need for innovative solutions.
- The reform of gambling regulations emphasizes player protection and responsible gaming.
- Bulk communications in financial services warrant careful consideration and compliance.
- Consumer behavior trends, like using BNPL for essentials, reflect changing preferences.
- Monitoring and regulating cold calling practices align with consumer protection goals.
- Energy market acquisitions reflect strategic shifts in household service providers.
- Employment trends and statistics offer insights into economic conditions and stability.
- The role of AI and technology in debt advice and management continues to expand.
- Upcoming conferences provide valuable platforms for discussing industry advancements.
Access all the updates here
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