Regulatory Horizon Scanner

As we near the end of 2024 , there are a number of regulatory publications we are eagerly awaiting , particularly given the FCA ’ s history of releasing important messages right up until the start of the festive period . One continuing area of focus is ongoing advice services , where the FCA aims to enhance standards and will be issuing its next steps for the delivery of this key area following their initial review . This initiative aligns with the FCA ’ s commitment to value and consumer outcomes . Additionally , final rules regarding the new ‘ capital deduction for redress ’, which is a shift towards the polluter pays model , with firms that have known potential redress liabilities being required to hold capital resources above their minimum capital adequacy requirements , will be introduced . In the retirement income advice sector , the FCA will continue its supervisory efforts , ensuring that firms provide suitable products and services for consumers transitioning into retirement with a further update expected in Q1 2025 . We are also expecting to see increased scrutiny in the protection market . A market study into this sector is anticipated in 2025 , looking to understand whether the market is functioning well , and we believe it may well lead to regulatory reform to drive better consumer outcomes .

Q4 • 2024