Financial Services Risk and Regulation Unravelled Podcast Episode 76 | Regulatory Update: Complaints, credit and conduct
Jun 18, 2025
Discover the latest regulatory changes impacting UK financial services. The discussion covers simplified complaints reporting, with a focus on protecting vulnerable customers. Tune in for insights on the review of the Register, updates on fund manager assessments, and the new PISCES trading rules. The podcast also highlights the government's plan to regulate Buy Now, Pay Later products, as well as consumer credit reforms and proposed redress schemes. Plus, learn about the ongoing crackdown on misleading financial promotions.
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Streamline Complaints Reporting
- The FCA is consolidating complaints reporting into one form linked to a firm’s permissions to reduce paperwork.
- Firms must report complaints' volumes more granularly and identify vulnerable customers.
Simplifying Value Assessments
- The FCA plans to drop prescriptive disclosure for authorized fund managers' value assessments.
- Managers will summarize assessments, reducing lengthy reports but keeping accountability.
FCA Register Clean-Up
- The FCA found 11,000 outdated requirements on the Register needing updates.
- Most changes are minor and will be made automatically without firm engagement.