Regulatory

The Financial Conduct Authority (FCA) has implemented a package of remedies to prevent insurance companies from issuing loyalty penalties to customers.  The move is an attempt to improve competition and ensure renewal quotes for home and motor insurance consumers are not more expensiv

The Financial Reporting Council (FRC) has issued a revision of its UK auditing standard on the responsibilities of auditors relating to fraud - ISA (UK) 240 (Revised May 2021) - The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements.The revisions to the standard are des

The number of fines issued to auditors by the accountancy watchdog has almost tripled in the last year as the Financial Reporting Council (FRC) seeks to stamp out poor practices ahead of a government consultation on reforming the scandal-hit industry. The FRC distributed £25 million in fines i

The Financial Reporting Council (FRC) has published research revealing that workforce engagement lies at the heart of good corporate governance. The research, by Royal Holloway at the University of London and the Involvement and Participation Association found that many FTSE 350 annual reports appea

The Financial Conduct Authority (FCA) has published a consultation on its proposed policy framework for exercising two of its new powers under the Benchmarks Regulation (BMR), which will be introduced by the Financial Services Act 2021. These powers relate to the use of critical benchmarks that are

Ahead of the 2021 interim reporting season, a review by the Financial Reporting Council (FRC) has highlighted examples of good practice in company’s interim reporting and areas where further improvements are required.

The Financial Conduct Authority (FCA) has announced proposals to stop the practice of ‘claims management phoenixing’, by banning Claims Management Companies (CMCs) from managing Financial Services Compensation Scheme (FSCS) claims where they have a relevant connection to the claim. Claim

The Financial Conduct Authority (FCA) has today set out plans for a new Consumer Duty, which will set a higher level of consumer protection in retail financial markets for firms to adhere to. Firms are already bound by FCA rules and principles to treat customers fairly and many firms are delivering

Companies are better aligning their board remuneration policy and practices with long-term shareholder interests according to new research conducted by the Financial Reporting Council (FRC) and The University of Portsmouth. This research assessed a sample of FTSE 350 companies to determine the exten

The Financial Services Regulatory Initiatives Forum has published the third edition of the Regulatory Initiatives Grid which this year includes contributions from the Financial Reporting Council (FRC) for the first time.

The Financial Conduct Authority (FCA) has launched a consultation on proposals for a new category of fund designed to invest efficiently in long-term, illiquid assets. Within the consultation, the proposal is that these funds would be open-ended and would be able to invest in assets such as venture

The Financial Conduct Authority (FCA) has proposed new rules to require pension providers to ‘nudge’ consumers to Pension Wise in order to benefit from guidance before they access their defined contribution pension savings. This includes booking an appointment with Pension Wise if the co

Financial Reporting Council (FRC) has announced the appointment of 19 members to its Advisory Panel with effect from May 1. The Advisory Panel is a group of appointed non-executive subject matter specialists, who are called on to provide expert advice and input across the breadth of the FRC’s

Following feedback to its Call for Input (CFI) on Consumer Investments, the Financial Conduct Authority (FCA) has published proposals to strengthen its financial promotion rules for high-risk investments to help retail investors make more effective decisions. The discussion paper (DP) seeks views on

The Financial Conduct Authority (FCA) has launched a consultation on potential reforms to the UK Markets in Financial Instruments Directive (MiFID). Alongside the Treasury, the regulator is considering reforms to capital markets looking at changes to the UK’s regulatory regime to ensure t