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Risk Management Industry News for FCA Regulated Businesses

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FCA, Regulation, Compliance Management

Moneybarn punished for treating vulnerable customers unfairly

The recent fine handed down to car finance provider Moneybarn, should act as a stark reminder to all financial services firms – they must ensure fair treatment of all customers and in particular, those who could be seen as ‘vulnerable’. This month,...

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FCA, Financial Services, Bank of England

Regulators focus on future with new ‘data driven’ strategy

Data is not called the ‘new oil’ for nothing – for business, it’s a hugely valuable commodity, creating insights, allowing analytics and boosting competitiveness. And now, it seems, regulators are also getting in on the act. The Financial Conduct...

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FCA, Company Culture

Incentives for financial advice – time to review what’s on offer?

This year has seen a number of leading financial services providers pushed into the spotlight for their employee incentive schemes, which in some cases have led to large FCA fines. But reward is not a straightforward issue – bonuses have always been...

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FCA, Regulation, Financial Services

Can regulatory action curb Christmas spending debts?

Christmas is coming and retailers are pulling out all the stops to make sure customers spend, spend, spend. But for those already struggling with money problems, the extra debt they rack up will mean misery way beyond New Year.

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FCA, Payday Lenders

Does the demise of QuickQuid signal the end of Payday Loans?

Last Friday saw the collapse of the UK’s largest payday lender QuikQuid, following a raft of customer complaints and compensation claims. The company announced it was quitting the UK market “due to regulatory uncertainty” with the business owners...

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Final call for Senior Managers ahead of SMCR deadline

Time is running out to prepare for the Senior Managers and Certification Regime (SMCR), which will be rolled out across the financial services sector from 9 December, raising standards and introducing new levels of accountability.

It will see a...

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