Bereavement Reviews, Consumer Duty Pressures and AI Compliance in Focus

Cyber Frontiers: Navigating Risks and Innovation in Financial Services

In this episode of Beyond the Buzz, we break down the rapid rise of frontier AI and why regulators are starting to sound the alarm. From cyber risks that could escalate at machine speed to the growing responsibility on senior management, the message is clear: doing the basics well is no longer enough. We also explore a more supportive side of the FCA as it expands its Scale-up Unit, offering hands-on guidance for fast-growing firms navigating regulation. Plus, we unpack a staggering real-world cyber failure that led to a £963,900 fine, showing exactly how small weaknesses can spiral into major incidents. To round things off, we look at ChatGPT’s move into personal finance in the US and what it could mean for UK firms, advisers, and the future of financial advice.

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.