Chris Riach

Dec 11, 2024 | ftadviser.com | Alison Gay |Chris Riach |Pinsent Masons

As the next stage in the Financial Conduct Authority’s advice-guidance boundary review draws close, the regulator will likely be hoping that targeted support will play a crucial role in addressing the advice gap. The FCA is actively working to address the advice gap – the challenge consumers face in accessing affordable financial advice – through its review. This initiative aims to enhance consumer support in making informed financial decisions, particularly concerning pensions.

Oct 13, 2023 | pinsentmasons.com | Chris Riach |Hannah Ross

Financial regulation expert Hannah Ross of Pinsent Masons said: “This letter for the platform industry repeats familiar priorities with a Consumer Duty focus, but also sets out new regulatory expectations for platform providers, such as in relation to key emerging harms and due diligence obligations.” The FCA told CEOs that leadership teams should “fully understand the level of exposure” their firms have to risks including high-risk investments and poor operational resilience, and said it...

Sep 25, 2023 | pinsentmasons.com | Chris Riach |Hannah Ross

Chris Riach and Hannah Ross of Pinsent Masons were commenting after the FCA issued a ‘dear CEO’ letter (9-page / 194KB PDF) that set out its life insurance market priorities from now until the end of 2025. Riach said: “This is an important letter for the industry, setting out how the FCA’s priorities for the life insurance sector interplay with its focus on the consumer duty and the FCA’s priorities more widely.

Mar 24, 2023 | pinsentmasons.com | Chris Riach

What is the Consumer Duty? The Consumer Duty is the Financial Conduct Authority (FCA)’s flagship initiative to raise the standard of care for retail financial services customers. It comprises a new principle for business and specific rules and guidance which explain and define the FCA’s expectations. The current requirement to “treat customers fairly” has been extended to require the proactive pursuit of good customer outcomes by all parts of a firm’s business.