Regulation round-up is our monthly email to all regulated firms, updating you on the latest news that affects your sector.
Read or download the full Regulation round-up: August 2015
Subscribe to Regulation round-up
Introduction: Andrew Whyte, Director of Communications
Welcome to this month's edition of Regulation round-up. As Director of Communications, I'd like to talk about the launch of our new Handbook website on 29 August 2015.
The Handbook is at the heart of how we regulate and a key tool for firms. We know how important it is to get the website right for our users so we have designed it based on your feedback.
The new site has:
- a cleaner layout and easier navigation
- a timeline so that you can see when rules change
- an option to add favourites and build your own tailored Handbook
- improved search functionality
- glossary definitions displayed in a pop-up window
Hot topic: Complaints handling
We have published our final rules on complaints handling. These rules sit side by side with the current good practice we expect to see amongst all firms; all complaints to be handled fairly.
In summary the changes:
- extend the 'next business day rule', where firms can handle complaints less formally without sending a final response letter, to the close of three business days
- require firms to report all complaints
- raise consumer awareness of the ombudsman service, by requiring firms to send a 'summary resolution communication'
- prevent firms from charging existing customers premium telephone rates
In your sector…
Banks and building societies
FS: Accountability: UK branches of foreign banks
TR: Unauthorised transactions
CP: Cash savings remedies
Speech: Fair and Effective Markets Review
Speech: Wholesale conduct risk
TR: Benchmarks - oversight and controls
FCA Mortgage Conference
Investment managers and stockbrokers (retail and wholesale)
TR: Benchmarks - oversight and controls
MiFID II Implementation Roundtable
Speech: Fair and Effective Markets Review
Speech: Wholesale conduct risk
Director of Supervision: Investment, Wholesale and Specialist
Financial advisers
Financial Advice Market Review
MiFID II Implementation Roundtable
Ban and fine for Robert Shaw of TailorMade Independent Ltd
Director of Supervision: Investment, Wholesale and Specialist
Wealth managers and private bankers
MiFID II Implementation Roundtable
Speech: Fair and Effective Markets Review
Speech: Wholesale conduct risk
Financial Advice Market Review
Director of Supervision: Investment, Wholesale and Specialist
Mortgage lenders and brokers
FCA Mortgage Conference
Financial Advice Market Review
Insurers and insurance intermediaries
Approved Persons for Solvency II firms and non-directive firms
Ban and fine for Robert Shaw of TailorMade Independent Ltd
Consumer credit
TR: Staff remuneration and incentives
TR: Early arrears management in unsecured lending
PS: Mortgage Credit Directive
Cash Genie to provide £20m redress
Credit unions
CP: Reform of the legacy Credit Unions sourcebook