Key developments in February 2025:
FCA Handbook Changes: The Financial Conduct Authority (“FCA”) published Handbook Notice 127, which sets out changes to the FCA Handbook made by the FCA board on
Key developments in January 2025:
UK Listing Rules: The FCA published a consultation paper (CP25/2) on further changes to the public offers and admissions to trading regime and to the UK Listing Rules.
Key developments in December 2024:
FCA Handbook: The Financial Conduct Authority (‘‘FCA’’) published Handbook Notice 125, setting out changes to the FCA Handbook made by the FCA board on
Key developments in November 2024:
Financial Crime: The Financial Conduct Authority (“FCA”) published a policy statement (PS24/17) setting out changes to its Financial Crime Guide.
FCA Handbook: The FCA published Handbook
In the evolving landscape of financial services, there have been reports that the Financial Conduct Authority (FCA) has recently classified FNZ, a prominent wealth management platform provider, as a ‘co-manufacturer’ of financial products. This designation carries significant regulatory implications, underscoring the critical role of product governance in ensuring consumer protection and market integrity.
UPDATE: On 19 November 2024, the Council of the EU issued a press release confirming it had adopted the EU Ratings Regulation. The next step is that the Regulation will be published in the Official Journal of the EU and enter into force 20 days later – applying 18 months after is entry into force.
On 1 November 2024, the Financial Conduct Authority (“FCA”) updated its sustainability disclosure and labelling regime website and added detailed examples of pre-contractual disclosures to its Sustainability Disclosure Requirements (“SDR“) guidance. The SDR and investment labels regime enters into force on 2 December 2024 and firms have been able to use investment labels
Key developments in October 2024:
ESG: The Transition Plan Taskforce (‘‘TPT’’) published its final report (Progress Achieved and the Path Ahead: The Final Report of the Transition Plan Taskforce)
The Motor Finance Commission Claims – including Johnson v FirstRand Bank, Wrench v FirstRand Bank, and Hopcraft v Close Brothers – are a set of Court of Appeal cases addressing undisclosed or partially disclosed commission payments in motor finance agreements.
1. Background:
The claimants were financially unsophisticated consumers who relied on
On 7 October 2024, the FCA issued a “Dear CEO letter” (“Letter”) to firms whose primary business is financial advice or investment intermediation. The Letter contains a summary of the FCA’s priorities and expectations of firms in this sector.
Priorities
The FCA’s priorities over the next two years are: