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                                                Regulator floats ban on borrowing to buy crypoassets
                                            
                                            
                                                
                                        
                                    
                                                
                                                    The FCA is asking firms and other interested parties whether it should restrict the use of credit cards to buy most cryptoassets as part of the regulatory framework it will propose later this year.
                                                    
                                                    
                                                
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                                    Online Published Date: 
                                                    
                                                        02 May 2025
                                                    
                                                
                                                
                                                    Appeared in issue: 
                                                    
                                                            Vol 37 No 9 - 01 June 2025
                                                    
                                                
                                            
                                            
                                                Asset managers must reassess systems after non-compliance found in small-firm review
                                            
                                            
                                                
                                        
                                    
                                                
                                                    All asset managers are being asked to review their systems regarding high-risk investments, conflicts of interest and the Consumer Duty, after an FCA examination of small managers found variable results.
                                                    
                                                    
                                                
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                                    Online Published Date: 
                                                    
                                                        08 May 2025
                                                    
                                                
                                                
                                                    Appeared in issue: 
                                                    
                                                            Vol 37 No 9 - 01 June 2025
                                                    
                                                
                                            
                                            
                                                FCA consults to thin out the insurance rulebook
                                            
                                            
                                                
                                        
                                    
                                                
                                                    A range of measures are due to be changed in the insurance rulebook - including removing the 12-month review requirement and clarifying the definitions that may exclude large commercial insurance customers from the conduct rules and the Consumer Duty.
                                                    
                                                    
                                                
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                                    Online Published Date: 
                                                    
                                                        14 May 2025
                                                    
                                                
                                                
                                                    Appeared in issue: 
                                                    
                                                            Vol 37 No 9 - 01 June 2025
                                                    
                                                
                                            
                                            
                                                Credit Suisse ex-VP banned after guilty plea and FBI co-operation
                                            
                                            
                                                
                                        
                                    
                                                
                                                    A third former Credit Suisse employee involved in making $1.3 billion of corrupt loans to Mozambique has been banned by the FCA.
                                                    
                                                    
                                                
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                                    Online Published Date: 
                                                    
                                                        23 May 2025
                                                    
                                                
                                                
                                                    Appeared in issue: 
                                                    
                                                            Vol 37 No 9 - 01 June 2025
                                                    
                                                
                                            
                                            
                                                Final consultation for stablecoin rules and crypto custody regime
                                            
                                            
                                                
                                        
                                    
                                                
                                                    The FCA is in its last stage of consultation on the design of rules to govern the issuance of stablecoins and the custody of cryptoassets.
                                                    
                                                    
                                                
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                                    Online Published Date: 
                                                    
                                                        28 May 2025
                                                    
                                                
                                                
                                                    Appeared in issue: 
                                                    
                                                            Vol 37 No 9 - 01 June 2025
                                                    
                                                
                                            
                                            
                                                Pension Schemes Bill seeks to boost returns and UK investment
                                            
                                            
                                                
                                        
                                    
                                                
                                                    Plans to overhaul parts of the pensions sector - through consolidation, a greater focus on overall returns, the possibility of some mandatory UK investment and other measures - are to be introduced through the Pension Schemes Bill.
                                                    
                                                    
                                                
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                                    Online Published Date: 
                                                    
                                                        29 May 2025
                                                    
                                                
                                                
                                                    Appeared in issue: 
                                                    
                                                            Vol 37 No 9 - 01 June 2025
                                                    
                                                
                                            
                                            
                                                Upper Tribunal explains tax and interest rate calculation changes on levying of fines
                                            
                                            
                                                
                                        
                                    
                                                
                                                    Detailed guidance has been provided by the Upper Tribunal on the calculation of fines, in the case of two directors from Birmingham who operated a "flawed advice model" for pension transfers that saw 1,470 transfers made away from the British Steel Pension Scheme and those of other employers.
                                                    
                                                    
                                                
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                                    Online Published Date: 
                                                    
                                                        30 May 2025
                                                    
                                                
                                                
                                                    Appeared in issue: 
                                                    
                                                            Vol 37 No 9 - 01 June 2025
                                                    
                                                
                                            
                                            
                                                What makes a good fair value assessment?
                                            
                                            
                                                
                                        
                                    
                                                
                                                    "Fair value is rapidly becoming the litmus test for how well firms understand their customers and the outcomes they deliver." Jason Wassell provides lessons from the first two years of the Consumer Duty.
                                                    
                                                    
                                                
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                                    Online Published Date: 
                                                    
                                                        05 June 2025
                                                    
                                                
                                                
                                                    Appeared in issue: 
                                                    
                                                            Vol 37 No 9 - 01 June 2025
                                                    
                                                
                                            
                                            
                                                Consumer protection in view as cryptoasset activities brought into scope
                                            
                                            
                                                
                                        
                                    
                                                
                                                    As the Financial Conduct Authority progresses along its Crypto Roadmap, it has set out its approach to regulating cryptoasset trading platforms, intermediaries, cryptoasset lending and borrowing, staking and decentralised finance, along with the use of credit to purchase cryptoassets. Clear regulation and appropriate consumer protection will support long-term confidence in the sector, writes Ülkü Doğan.
                                                    
                                                    
                                                
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                                    Online Published Date: 
                                                    
                                                        05 June 2025
                                                    
                                                
                                                
                                                    Appeared in issue: 
                                                    
                                                            Vol 37 No 9 - 01 June 2025
                                                    
                                                
                                            
                                            
                                                Investment firms to benefit from rule-stripping agenda
                                            
                                            
                                                
                                        
                                    
                                                
                                                    In the wake of President Donald Trump's assault on "the regulatory onslaught", HM Government is following his lead. Its efforts, though less drastic, are similarly built on a desire to boost national income by pruning red-tape burdens for businesses. Chris Hamblin reports on consultations in progress in the financial services space.
                                                    
                                                    
                                                
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                                    Online Published Date: 
                                                    
                                                        05 June 2025
                                                    
                                                
                                                
                                                    Appeared in issue: 
                                                    
                                                            Vol 37 No 9 - 01 June 2025
                                                    
                                                
                                            
                                            
                                                Revisiting MCOB, amid mortgage market shake-up
                                            
                                            
                                                
                                        
                                    
                                                
                                                    On the heels of last month's Mortgage Rule Review consultation to simplify the current framework, the regulator will launch a "public discussion" on the future of the mortgage market. In the first of two articles, Adam Samuel reviews the Mortgage Conduct of Business sourcebook.
                                                    
                                                    
                                                
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                                    Online Published Date: 
                                                    
                                                        06 June 2025
                                                    
                                                
                                                
                                                    Appeared in issue: 
                                                    
                                                            Vol 37 No 9 - 01 June 2025
                                                    
                                                
                                            
                                            
                                                Firms' processes for vulnerable customers lacking
                                            
                                            
                                                
                                        
                                    
                                                
                                                    Despite the Consumer Duty and the regulator's regular publications on fair treatment of vulnerable customers, they continue to receive more detrimental outcomes in their dealings with financial services firms. Denis O'Connor discusses a recent FCA review that outlines good and poor practices.
                                                    
                                                    
                                                
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                                    Online Published Date: 
                                                    
                                                        06 June 2025
                                                    
                                                
                                                
                                                    Appeared in issue: 
                                                    
                                                            Vol 37 No 9 - 01 June 2025
                                                    
                                                
                                            
                                            
                                                Our survey says... a guide to cyber resilience in the financial sector
                                            
                                            
                                                
                                        
                                    
                                                
                                                    As one of the most targeted industries, cybersecurity remains a growing risk for financial services. How can we respond to the risks posed by cyber incidents?  Charlotte Witherington and Daniel Hirschfield explore the key lessons for central banks, regulators and policymakers from two cybersecurity surveys of the International Monetary Fund.
                                                    
                                                    
                                                
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                                    Online Published Date: 
                                                    
                                                        06 June 2025
                                                    
                                                
                                                
                                                    Appeared in issue: 
                                                    
                                                            Vol 37 No 9 - 01 June 2025