Regulation
Broadstone launches affordability health check for lenders
Broadstone has launched a new Affordability Health Check service to help lenders assess their frameworks against peer practices and regulatory expectations.
FCA
Later Life Lending
TMG Group agrees acquisition of Later Life Money
TMG Group has agreed to acquire Later Life Money, subject to FCA approval, as it expands its specialist advice capability in the later-life lending market.
News
FCA and PRA widen Scale-up Unit access for building societies
Applications are open from 1st September to 30th September for banks, building societies and other eligible dual-regulated firms.
News
Banking and credit card firms receive six times more complaints than other financial services sector – Huntswood
Analysis of the FCA's latest opened complaints data found organisations in the banking and credit card sector received an average of 15,360 complaints over six months.
News
89% of wealth management clients now served by 10 largest firms, FCA finds
Its market study found 41% of wealth managers intend to acquire another firm, increase revenue or grow their client base by more than 25% in the next two years.
News
FCA expands Scale-up Unit support to five fast-growing financial firms
ClearScore, Modulr, Teya, Urban Jungle and Zilch have joined the initiative, becoming the first firms regulated solely by the FCA to take part.
News
Premium Credit urges firms to spread FCA fees amid inflation uncertainty
This year's FCA invoices, covering the final stage of a multi-year increase in minimum regulatory fees, are being issued between July and September.
News
Squire Patton Boggs urges firms to prepare for FCA non-financial misconduct rules
From September, all firms regulated by the senior managers and certification regime must take steps to prevent bullying, harassment or violence among employees if it is work related. Â
News
Consumer Duty has changed culture but firms still have work to do, says Capco
Reflecting on the third anniversary of Consumer Duty's introduction on 31st July 2023, the consultancy said the regulation had improved transparency around fees and charges.
News
Consumer Duty enters new phase as FCA focus shifts to customer outcomes, says MorganAsh
The support services provider said regulatory expectations are increasingly focused on firms' ability to evidence good outcomes, particularly for vulnerable customers.
News
IMLA and AMI back FCA mortgage reforms but say advice and lender judgement remain essential
Stephanie Charman, CEO of AMI, said: “These proposals will only work if lenders and advisers adopt and implement them."
News
Mortgage Rule Review hinges on access to suitable products, says Capco
Steve Bull said: "The onus will now be on clarifying the final rules so lenders can start translating these proposals into products that make a real difference for customers."