441 Results found.

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

Consumer Duty: Are your Governance fundamentals well grounded?

Insight — 07/11/23
As firms prepare to demonstrate that the Consumer Duty has been effectively implemented within their organisation, TCC is finding that a material number of firms are still facing obstacles: Delegating too much to project managers and ‘middle management’ Assessments finding evidence of intuitive

World Mental Health Day 2023: Why it matters

Insight — 10/10/23
Today, TCC and Recordsure are proud to be celebrating the World Mental Health Day (WMHD) initiative, which aims to raise awareness of mental health issues and drive positive change surrounding mental health treatment and advocacy. Held annually on 10th October, the World Foundation of Mental Health

Tony Carroll

Meet the team
Tony has worked in financial services for 30 years, his experience ranges from branch banking, compliance and T&C roles, to the Personal Investment Authority and compliance working with the IFA and Brokers, spending time at major networks and adviser support firms. This encompassed advice a

Gary Maude

Meet the team
Gary is an experienced Regulatory Consultant, having worked in financial services compliance for over 20 years. He has worked at executive level, and as an approved person, across risk, compliance and audit, as well as performing the role of Chief Risk Officer. In addition to his experience with adv

Why firms need to be challenging themselves on price and value

Insight — 26/09/23
In the run-up to the Consumer Duty, the regulator called on firms to re-examine their charging structures to ensure compliance with the new legislation’s Price & Value outcome. However, our benchmarking study found that half of firms had no plans to change their fee model, reporting they were

Consumer Duty and fair value: where are you now?

Insight — 20/09/23
After years of consultation and planning, the Consumer Duty came into force on 31st July 2023, demanding higher standards of customer care and calling upon FCA-regulated financial businesses to ‘act to deliver good outcomes for retail customers’.   Central to this vision is the pledge that

Almost 400 later life mortgage promotions identified as misleading

Insight — 19/09/23
The FCA has published the findings from its review into later life mortgages after working with the largest intermediaries of these products to improve their advice processes.   As a result of this multi-firm initiative, the regulator found that almost 400 financial promotions required removal

Victoria Mansbridge

Meet the team
Victoria Mansbridge has almost two decades of experience working in financial services compliance and heads the Sales Operations function at TCC. Her role has always been sales focused, beginning with introducing cold prospects to TCC in 2005. Victoria now works primarily behind the scenes, facilita

The impact of the cost-of-living crisis on debt consolidation

Insight — 12/09/23
With falling energy prices, economists are forecasting that the UK’s inflation rate will have fallen to 5% by the end of 2023.   Whilst this should be a welcome relief to UK consumers, many will still be feeling the pinch from higher prices, particularly from the effect of food price inflatio

A peak of interest-only mortgages is set to mature in less than a decade

Insight — 17/08/23
Mortgage firms should act now to support ‘challenged’ borrowers who may struggle to repay at maturity, in planning for this risk of serious customer detriment.   The number of borrowers on interest-only mortgages is lower than 1 million, consumer research from the FCA has revealed. This is

Technical Complaints Handlers / Business Reviewers

TCC is urgently looking for a large team of experienced Diploma Level 4 qualified Advice Complaints Handlers and Business Reviewers for an ongoing project investigating complaints relating to suitability of advice on pensions and investments business in particular.   Job Title: Advice Complaints H

FCA warns of risk posed by poor mortgage advice amid cost-of-living crisis

Insight — 03/08/23
Following on from its 2020 review work with firms involved with Lifetime Mortgages, the FCA mentioned again - in its Business Plan/strategy for 2022/23 - its concerns regarding the risk of poor (or unclear) advice in this sector. The FCA has been following up with firms where it has undertaken previ

FCA publishes Guidance Consultation on Financial Promotions on social media

Insight — 02/08/23
In the FCA’s Business Plan for 2023/24, it prioritised reducing and preventing consumer harm, particularly in in financial promotions. The FCA has now published its Guidance Consultation on Financial Promotions on social media. Whilst firms may consider this to be aimed at ‘finfluencers’ and u

FCA issues new customer support guidance for insurance firms

Insight — 01/08/23
The Financial Conduct Authority, in conjunction with the Government, continue to press the financial services market for initiatives designed to help customers with the current cost of living crisis. Most recently this was discussed in FCA policy statement PS23/9. Balancing these expectations, along

Three key themes from the FCA’s Fair Value assessment review

Insight — 21/07/23
Published in May 2023, the FCA's Consumer Duty price and value assessment review examined the frameworks of 14 (predominantly large) financial businesses - highlighting areas that successfully aligned with the regulator's vision for the future, alongside some key areas where firms were falling short