For firms active in providing protection insurance, fair value is the FCA’ s motivation for the upcoming Protection Market Study which will review whether this market is functioning well and whether consumers are receiving good outcomes. It is important firms can demonstrate a client centric process when selling protection, which includes clear consideration of demands and needs, and a governance framework that focuses on the quality of the broking service provided. The FCA will be conducting their market study throughout 2025, and we encourage firms to engage with the regulator.
Finally, some potential good news for firms and those responsible for regulatory reporting, with the FCA committing to review the proportionality of regulatory reporting and the potential that they might look to retire the collection of less valuable data. We can live in hope and take every opportunity to engage with the regulator on this subject.
Finally, some potential good news for firms and those responsible for regulatory reporting
The overarching strategy communicated for the coming months appears to be pretty clear. Whilst we are likely to see some interesting regulatory developments towards stimulating growth, these will take time to implement. In the meantime, focusing on Consumer Duty, retirement income advice, ongoing service provision, and supporting customers with sustainable preferences will continue to be the foundation of the regulatory outlook for the coming year ahead.
Keep up to date with all the latest regulatory news with our Horizon Planner, available in the compliance area of the hub.
FCA Strategy letter for Mortgage Intermediaries
MS24 / 1: Pure Protection Market Study
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Feedback statement
Retirement income advice
Policy Statement
Diversity And Inclusion Framework
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NEW TOOL
Investment Advice Assessment Tool( for investment advice other than RIA and DB)
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Consultation Paper( s) for further Capital adequacy reform for Personal Investment Firms |
ALL FIRMS to prepare their second annual assessments of Consumer Duty Outcomes and Board Reports |
Q1 • 2025 Q2 • 2025
Update on delivery of ongoing advice
Report
Review of firms’ treatment of customers in vulnerable circumstances
Policy Statement
Capital deduction for redress: personal investment firms
FCA working group output to build capability on sustainable finance
Consultation paper
Firm preparation to begin
Implementation of final rules
April 2025 | 17