Financial Services Risk and Regulation Unravelled Podcast
Episode 69: Regulatory update – where are we at the end of 2024?
Dec 23, 2024
This discussion dives into the ongoing motor finance saga, focusing on a Supreme Court appeal involving Close Brothers and the FCA's push for resolution. There’s also a look at Consumer Duty feedback and evolving reporting requirements for life insurers. Key regulatory insights include the 'name and shame' consultation and MiFID updates aimed at streamlining compliance. Additionally, they touch on the implications of Barclays’ fine in relation to investment disclosures, showcasing the ever-changing landscape of financial regulation.
27:27
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Quick takeaways
- The FCA's support for the expedited appeal in the motor finance saga highlights its commitment to consumer confidence and market clarity.
- Revisions to the FCA's 'name and shame' policy aim to balance regulatory transparency with the protection of smaller firms from undue public scrutiny.
Deep dives
Updates on Motor Finance Regulation
The latest developments in motor finance regulation reveal that both Close Brothers and the FCA are actively involved in appealing a significant court ruling. The FCA has supported the appeal and pushed for a swift decision from the Supreme Court to remedy ongoing uncertainty in the market. This urgency stems from the need to address a backlog of consumer complaints and restore clarity for businesses and consumers affected by the ruling. By emphasizing the importance of a timely resolution, the FCA aims to stabilize the financial landscape and enhance consumer confidence.
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