HIGHLIGHTS ¦ DEMSA Newsletter

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) closed; standards to be finalised by March 2025.
  • Fair4All Finance and My Community Bank launched a £50m debt consolidation pilot scheme.
  • The FCA responded to the government on its economic growth strategy, focusing on regulatory simplification.
  • DORA came into effect on 17 January 2025, impacting operational resilience in financial services.
  • FCA operational resilience rules take effect by 31 March 2025.
  • “Plain Numbers” event on consumer understanding of borrowing costs scheduled for 23 January 2025.
  • Mega AI networking event on vulnerability data sharing happening on 29 January 2025 in London.

Read the full summary – here


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See also  DEMSA Newsletter ¦ Summary