Financial Services Risk and Regulation Unravelled Podcast
Episode 70: Regulatory update - What should we expect in 2025?
Jan 24, 2025
David Morrey and Ben Farmer delve into key regulatory trends set to impact financial services by 2025. They highlight a decrease in FCA fines and explore the implications of future changes in the FCA Handbook. The discussion includes challenges in motor finance remediation and ongoing issues for financial advisors. They analyze the balance between simplifying regulations and effective oversight, especially regarding vulnerable customers. Finally, they consider the importance of transparency and competition in shaping the upcoming landscape.
20:02
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- The impending motor finance remediation and the potential Supreme Court appeal highlight the evolving accountability for consumer redress in financial services.
- Regulatory changes, including a streamlined FCA handbook, aim to balance compliance simplification with enhanced responsibilities for firms in risk management.
Deep dives
Upcoming Remediation Exercises
The discussion highlights two significant remediation exercises expected in the financial industry: one pertaining to motor finance and another regarding ongoing advice in the financial advisory sector. The motor finance remediation is anticipated to gain clarity following a Supreme Court appeal set for April, which could trigger the beginning of a redress process for consumers. Similarly, financial advisors may need to reconsider their practices as historical failures in delivering promised annual reviews could lead to substantial refunds. This situation is complicated by the capital constraints many advisory firms face, which raises questions about their ability to manage widespread refunds effectively.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
