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FSA Regulatory Updates

The FSA are continually updating and changing rules. We will keep you updated with any new rules that are relevant to your business, when they will be coming into effect along with any other responsibilities you may need to implement.

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2007 :
2008

RU08/16 - The Financial Services Authority (FSA) recently issued a Discussion Paper stating that they are considering using league tables to publicise poor service and to highlight the number of complaints banks and financial service companies receive. The rationale behind this move is to give consumers better access to statistics so that they can compare the performance of different companies.
Date: 16.07.2008

RU08/15 - Reducing financial crime in the UK is one of the Financial Services Authority’s (FSA) statutory objectives and priorities.
Date: 10.07.2008

RU08/14 - The Financial Services Authority (FSA) has produced a free, impartial comparison table for Payment Protection Insurance on its consumer website in its latest step to improve the standards of PPI sales.
Date: 01.07.2008

RU08/13 - The Financial Services Authority (FSA) takes fraud and indeed all financial crime in the UK very seriously. Therefore, ensuring appropriate controls are in place to combat fraud is paramount to ensure that firms meet the FSA’s and Joint Money Laundering Steering Group (JMLSG) rules.
Date: 20.06.2008

RU08/12 - In this article we highlight the main issues that the FSA have recently identified within a Mortgage Broker firm, to enable you to evaluate your own Systems and Controls and in particular how you record self certification cases for compliance.
Date: 12.06.2008

RU08/11 - The Financial Services Authority Mortgage Effectiveness Review is an integral part of the FSA’s programme to shape the future of the mortgage conduct of business regime.
Date: 27.05.2008

RU08/10 - In this article we look at the main changes and effects ICOBS has had upon the pure protection and payment protection insurance market.
Date: 14.05.2008

RU08/09 - The Financial Services Authority recently announced further changes to the Dispute Resolution: Complaints (DISP) Sourcebook
Date: 06.05.2008

RU08/08 - In this article we look at the main changes and effects ICOBS has on the general insurance sector.
Date: 10.04.2008

RU08/07 - The Financial Services Authority has introduced a new reporting schedule to simplify Section J – Fees Data within the Retail Mediation Activities Return (RMAR).
Date: 20.03.2008

RU08/06 - The Financial Services Authority has fined a bank £1.085 million for Payment Protection Insurance failings. This is the biggest PPI fine to date and reflects the FSA’s stance which was set out in the thematic update in September 2007 whereby they stated that they would increase the level of fines in PPI cases where it is warranted.
Date: 12.03.2008

RU08/05 - It goes without saying that sometimes the simplest of things can become the one thing that stumps us time and time again. One of our most frequently asked questions is ‘Do I need to say that I’m Authorised and Regulated on that?’ and ‘What do I need to put again?’ Well to help you Ecompli has constructed a simple guide to answer your queries and hopefully shed some light on the matter.
Date: 26.02.2008

RU08/04 - Following the closure of ICOB and the birth of ICOBS on the 6th January 2008, the guidance on financial promotions has somewhat reduced and is now only one page long.
Date: 20.02.2008

RU08/03 - The Financial Services Authority recently announced and published their final rules on the Insurance New Conduct of Business Sourcebook (ICOBS). The new rules replaced the previous ICOB Sourcebook when it came into force on the 6th January 2008.
Date: 31.01.2008

RU08/02 - The FSA have issued a Final Notice to a well known Life Office after they exposed their customers to financial crime. In this article we look at what failings occurred and how this led to several actual and attempted frauds against the Life Office’s customers.
Date: 22.01.2008

RU08/01 - A number of final notices have been issued to firms within the Mortgage Industry. In this article we look at the failings within the advice process so that firms can evaluate their own procedures and ensure they are compliant.
Date: 09.01.2008

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