454 Results found.

FCA Business Plan: 2024/25

Insight — 28/03/24
The FCA has released its annual Business Plan for 2024/25, which sets out its primary objectives over the coming financial year and marks the concluding part of its three-year strategy (2022-2025) to drive positive transformation within the financial services market. The Business Plan restates the F

Regulatory focus on the needs of vulnerable customers for 2024

Insight — 26/03/24
This month the FCA has published multiple communications which will ultimately impact how financial service firms treat customers in vulnerable circumstances. [two_third padding="10px 30px 0px 0px"] Here, TCC's Director of Advisory Practice, Gary Maude, outlines why it's a critical time for finance

FCA announces review into firms’ approaches to vulnerability for 2024

Insight — 20/03/24
On 15th March 2024, the FCA announced plans for a wide-ranging review into the actions firms are taking to identify and respond to the needs of vulnerable customers. The long-awaited review, which was first outlined in 2017, is expected to go further than the originally planned work on age-related i

Eight steps to implement to support customers in financial distress

Insight — 20/03/24
The 18th-24th March marks the tenth Debt Awareness Week which is coordinated by StepChange Debt Charity. In concurrence and to spotlight the issues associated with problem debt, the FCA has joined forces with other regulators to warn financial service firms about debt collection activity and the str

Compliance in focus: Your experts’ guide to Consumer Duty annual assessments

Insight — 29/02/24
During its recent multi-firm review, the FCA urged boards to place the Consumer Duty at the top of their regulatory agenda – re-iterating how, along with senior leadership, they will ultimately bear responsibility for the outcomes achieved for customers. Ahead of the one-year anniversary of the le

Three steps to preparing for a motor finance redress scheme

Insight — 28/02/24
The FCA’s recent announcement of a full-scale review into complaints handling within the motor finance sector could be the first sign of a significant redress programme on the horizon for brokers and lenders – on a similar scale to the PPI scandal. [two_third padding="10px 30px 0px 0px"] Here, T

Senior Redress Analyst

Job
TCC is urgently looking for a team of Defined Benefit RECAL Senior Redress Analysts to join TCC’s in-house team of actuarial and redress calculations experts. Job Title: Senior Redress Analyst Rate: £450 per day (via an umbrella) Start Date: As soon as possible Duration: Six months initially Loca

Assessing vulnerability: How can firms help mitigate risks of DIY SIPPs?

Insight — 09/02/24
A recent Financial Ombudsman Service decision has highlighted the risks of DIY SIPP arrangements – particularly for customers displaying signs of vulnerability such as gambling addiction. In this FT Adviser feature, TCC’s Head of Advisory Practice, Gary Maude, gives his expertise regarding firms

Equity Release: Get your five-step guide to Consumer Duty compliance

Insight — 02/02/24
Later life mortgages and equity release have returned to the regulatory spotlight in recent months following a wide-ranging review that raised concerns over advertising and advice standards within the market. The review dovetailed with the recently implemented Consumer Duty legislation, which mandat

TCC and Recordsure welcome aboard Richard Lee as Client Account Director

Insight — 17/01/24
Kicking off the new year with an exciting new addition, we’re very glad to welcome digital transformation specialist Richard Lee to the TCC and Recordsure team. As an experienced Client Account Director, Richard’s role will see him devising tailored solutions for our clients – incorporating TC

Putting customers first: Preparing for your Consumer Duty annual assessment

Insight — 12/01/24
The FCA rounded up 2023 by publishing its findings into the retail banking Consumer Duty multi-firm review.   This comprehensive publication has a read-through across all sectors of the financial service industry and reminds firms that they should expect the FCA to ask for their annual Consumer

Regulatory due diligence: Examining firms’ priorities for 2024

Insight — 10/01/24
2023 proved to be another busy year for acquisitions within financial services - and despite the relatively higher cost of borrowing, this trend shows no sign of stopping into the new year. But with DB Transfers now being considered Business As Usual (BAU) by the regulator, where should firms be foc

2024 in focus: Are you prepared for the January resource rush?

Insight — 13/12/23
It goes without saying that 2023 has been challenging for businesses and their customers alike. The consumer tendency to over-stretch finances during the Christmas and winter holiday season is not new. Yet, at the end of the 12 months of a demanding period with a cost-of-living crisis and frequent m

Richard Lee

Meet the team
Richard Lee is Client Account Director for TCC and Recordsure. Prior to joining the company, Richard spent five years in the enterprise SaaS software industry working for NICE Nexidia. Here he gained extensive expertise in enabling organisations to grow their revenues leveraging analytical insights

FCA outlines assertive supervisory plans for wealth management firms

Insight — 23/11/23
Earlier this month, the FCA published a Dear CEO letter to wealth management firms urging them to take immediate action to help prevent financial crime and meet their Consumer Duty requirements.   In the letter, the regulator confirms CEOs are accountable for ensuring FCA requirements and expec

Why are equity release and later life mortgages in the FCA spotlight?

Insight — 14/11/23
The regulator’s review into later life mortgage providers, published on the 14th of September 2023, took a deep dive into the advice standards and mortgage advertising of the firms collectively responsible for around half of all the UK’s later life mortgage sales. The review is focused on the eq

Four steps to building an effective Retirement Income proposition

Insight — 13/11/23
In June, the FCA re-iterated its focus on retirement income as a regulatory priority, requesting information from more than 1,000 firms on their approach to managing areas including processes, fees, incentives and controls via an 87-question survey. The regulator is expected to issue further communi

Delivering better customer outcomes under the Consumer Duty

Insight — 08/11/23
Only 41% of adults have confidence in the UK financial service industry according to the latest Financial Lives Survey conducted by the FCA.   This alarming statistic comes a year on from when firms first built and scrutinised their Consumer Duty implementation plans. And now, regulated busines

Collaborating to implement best Consumer Duty practice

Insight — 07/11/23
For over three months, the Consumer Duty has been a regulatory reality and mandates that all FCA administered firms deliver a higher standard of customer care with consumer protection at its core.   And as many firms continue to explore how this is implemented according to the Consumer Duty’s