Newsletter Key Themes ¦ Industry and Regulatory Developments – DEMSA

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Regulatory Updates and Compliance

PS24/2 – Policy Rules from CP23/13 (BiFD): The new policy rules under PS24/2, effective from November 2024, are designed to enhance protections for borrowers in financial difficulty. This is critical for financial service providers to understand as it will affect debt recovery practices and require adaptations in how firms engage with vulnerable consumers. FCA Policy StatementSUP15 and FIN073 Reporting: The updates on reporting requirements underscore the importance of compliance and operational transparency. Financial services firms need to be aware of these changes to ensure they meet the regulatory standards and avoid potential penalties. This is particularly vital in times of regulatory scrutiny over financial resilience. SUP15 Notification, FCA Financial Resilience Survey

Financial Resilience and Consumer Impact

General Financial Resilience Update: Discusses the FCA’s focus on the fin...

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