Regulatory

The Financial Conduct Authority (FCA) has today set out plans for a new Consumer Duty, which will set a higher level of consumer protection in retail financial markets for firms to adhere to. Firms are already bound by FCA rules and principles to treat customers fairly and many firms are delivering

Companies are better aligning their board remuneration policy and practices with long-term shareholder interests according to new research conducted by the Financial Reporting Council (FRC) and The University of Portsmouth. This research assessed a sample of FTSE 350 companies to determine the exten

The Financial Services Regulatory Initiatives Forum has published the third edition of the Regulatory Initiatives Grid which this year includes contributions from the Financial Reporting Council (FRC) for the first time.

The Financial Conduct Authority (FCA) has launched a consultation on proposals for a new category of fund designed to invest efficiently in long-term, illiquid assets. Within the consultation, the proposal is that these funds would be open-ended and would be able to invest in assets such as venture

The Financial Conduct Authority (FCA) has proposed new rules to require pension providers to ‘nudge’ consumers to Pension Wise in order to benefit from guidance before they access their defined contribution pension savings. This includes booking an appointment with Pension Wise if the co

Financial Reporting Council (FRC) has announced the appointment of 19 members to its Advisory Panel with effect from May 1. The Advisory Panel is a group of appointed non-executive subject matter specialists, who are called on to provide expert advice and input across the breadth of the FRC’s

Following feedback to its Call for Input (CFI) on Consumer Investments, the Financial Conduct Authority (FCA) has published proposals to strengthen its financial promotion rules for high-risk investments to help retail investors make more effective decisions. The discussion paper (DP) seeks views on

The Financial Conduct Authority (FCA) has launched a consultation on potential reforms to the UK Markets in Financial Instruments Directive (MiFID). Alongside the Treasury, the regulator is considering reforms to capital markets looking at changes to the UK’s regulatory regime to ensure t

The Financial Reporting Council (FRC) has announced it will be holding an international conference in June entitled Audit Firm Culture: Challenge. Trust. Transformation. The conference will explore the link between audit firm culture and audit quality with the objective of accelerating the pace of c

The Financial Reporting Council (FRC) has issued an Exposure Draft that proposes to extend the application period of requirements that cover the accounting treatment of temporary rent concessions occurring as a direct consequence of the COVID-19 pandemic by one year. FRED 78 proposes that requiremen

The Financial Conduct Authority (FCA) has launched its second consultation on introducing the UK Investment Firm Prudential Regime (IFPR) for FCA prudentially-regulated investment firms. The IFPR introduces a new prudential regime for MiFID investment firms regulated by the FCA. It will create a sin

The Financial Reporting Council (FRC) has said it is on track to become a "new, more resilient regulator" after it published its Strategy for 2021/22 following a period of consultation. Throughout the consultation, respondents expressed broad support for the FRC’s progress towards the new Audi

The Financial Conduct Authority (FCA) has confirmed that it will be consulting shortly on amendments to its Listing Rules and related guidance to strengthen protections for investors in Special Purpose Acquisition Companies (SPACs). The consultation will consider the structural features and enhanced

The Financial Reporting Council (FRC) has published summaries of its corporate reporting reviews for the first time. Each year, the FRC conducts over 200 corporate reporting reviews to assess whether company reports and accounts comply with relevant accounting and reporting requirements.

Sir Jon Thompson, the chief executive of the Financial Reporting Council (FRC) has told non-executive directors that they cannot “simply turn up” and “take your fees” as backlash grows over proposed reforms to increase their exposure to regulatory action. Yesterday, Sir Jon T