What you need to know this week
- The FCA is reviewing motor finance commissions, with potential for a redress scheme affecting over 2 million customers.
- NatWest suffered a major outage, highlighting continued risks to operational resilience in essential financial services.
- HSBC UK CEO underscores the sector’s high cybersecurity costs and focus.
- ICO released new guidance on data breaches and launched a strategy on AI and biometrics regulation.
- Lowell’s Financial Vulnerability Index shows vulnerability at its highest since the pandemic.
- Ofwat reported household water debt now exceeds £2 billion; new rules introduced to ban bonuses for poor performance.
- FCA appoints Chris Pond as Chair of the Financial Services Consumer Panel, strengthening consumer focus in policymaking.
- FCA updated its Enforcement Guide to improve transparency and reduce case durations from 42 to 16 months.
- IVA protocol updated with new 2024 IPA report; key benchmarking data published.
- Upcoming Debt Buyer, DCA and BPO event to focus on data-led decision-making and regulatory horizon scanning (17 June, Manchester).
- National Support Network (NSN) discussed operational and social benefits of coordinated support platforms.
- Multiple events and consultations active: MaPS Standards (closing 13 June), VRS webinar (20 June), MAT inclusive design training (11–12 June).
Read the full summary – here
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