A monthly summary of regulatory developments in the UK. A pdf version and copies of the weekly update can also be found here.
Summary Headlines and Activity Financial Conduct Authority (FCA):
Motor Finance Redress Campaign: Launched a £1 million consumer awareness campaign around a proposed motor finance compensation scheme, urging customers not to use claims management companies for redress. New research found 79% of affected motor finance customers know they may be owed compensation and 61% are aware of a possible scheme – yet 41% of those aware didn’t realize they wouldn’t need a third-party firm to claim.
Speeches and Best Practices: Senior FCA executives delivered multiple speeches this month. Topics included tackling financial crime (emphasizing it is not “victimless”), data and innovation in fintech regulation, and supporting UK economic growth through smarter regulation. The FCA also shared examples of good and poor practices in firm authorization and registration processe...
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