The Duty Never Sleeps

The Duty Never Sleeps

This week on Beyond the Buzz, we unpack another busy week in financial regulation. We start with the FCA’s ban and £755,000 fine against a former wealth management director who continued advising on DB pension transfers without the required professional indemnity insurance — and why the regulator says this was a serious failure of integrity. We also dive into the FCA’s latest Consumer Duty warning during the cost of living crisis, including what firms should be doing now to monitor outcomes, support vulnerable customers, and reassess fair value. Plus: *  The FCA’s upcoming review of bereavement processes  *  Nikhil Rathi’s call for a more coordinated fight against financial crime  *  What the King’s Speech and the proposed “Enhancing Financial Services Bill” could mean for firms  From accountability and affordability to regulatory reform, we break down the key developments and what they mean in practice for advisers and firms alike.

Bereavement Reviews, Consumer Duty Pressures and AI Compliance in Focus

Rachel Macrae and Vicky Pearce unpack another busy week in financial services regulation, covering the FCA’s upcoming bereavement review, new Regulatory Priorities returns, and growing scrutiny around vulnerable customer outcomes under Consumer Duty. They also discuss the ongoing debate around fair value assessments, recent enforcement action linked to unlawful financial promotions, and the importance of strong governance when using AI in regulated firms following the publication of their latest article in the PIMFA Journal.

Simplifying Financial Promotions

In this episode of Beyond the Buzz, Vicky Pearce and Rachel MacRae unpack the latest FCA developments, including proposals to simplify consumer credit financial promotions, cyber resilience insights, ECCTA information sharing, SM&CR reforms, fund tokenisation, and the FCA’s growing focus on anti-greenwashing. A practical look at the key regulatory updates firms should have on their radar.

A mixed forecast for compliance this week

In this episode we cover the latest SM&CR updates and what they mean in practice, including changes to criminal record checks, the 12 week rule and certification processes. We also look at the FCA’s expectations around oversight of inactive ARs, before rounding up recent Consumer Duty developments and key takeaways for firms.

Consumer Duty Board Reporting: Lessons from Year Two

In this episode, we unpack the FCA’s latest reflections on year two Consumer Duty Board Reports and what boards should be focusing on as the third reporting cycle approaches. We discuss where firms are making progress, common weaknesses still being flagged by the regulator, and what good, outcome‑focused reporting really looks like in practice. We also touch on the ongoing scrutiny around financial promotions, recent updates on risk warnings, and other regulatory developments firms should have on their radar as they plan ahead for the year.