Compliance Monitor

All firms in the retail sector are being asked by the FCA to check that their systems comply with the current and prospective guidance on PEPs (Politically Exposed Persons).

The 14 financial institutions that will be required to fill 'access to cash' gaps after the closures of branches and ATMs will be able to vary or even shut the new arrangements after two years.

On the day of publishing its first report on its new competitiveness objective, the FCA called for input from the sector on schemes it is developing to reduce regulatory costs.

A redress scheme on motor finance for overcharged customers is one of the options being considered by the FCA as itextends the timetableon its review of discretionary commission arrangements (DCAs).

London-based asset manager H2O has agreed to withdraw from the UK market after the FCA found a litany of failings in its activities, including fabricated minutes and use of superyacht and private jet hospitality that was not fully disclosed.

The FCA is developing a traffic light rating system for defined contribution (DC) pension schemes in the workplace that could drive the poorest performers from the market.