Read or download the full Regulation round-up: July 2017
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Introduction: Christopher Woolard, Director of Strategy and Competition
Welcome to the July edition of Regulation Round-Up. I’d like to take this opportunity to highlight the interim report of our Retirement Outcomes Review . This is the first comprehensive study into how the retirement income market is changing since the pension freedoms. Our review focused on the 1 million pension pots that have been accessed since pension freedoms.
Hot topic: Asset Management Market Study
We have published the final report of our asset management market study. The final report follows the interim report published last year which found that price competition is weak in a number of areas of the industry. Despite a large number of firms operating in the market we found evidence of sustained, high profits over a number of years, based on our sample. We also found that investors are not always clear what the objectives of funds are, and fund performance is not always reported against an appropriate benchmark.
Hot topic: Advice Unit
We have announced the expansion of the scope of our Advice Unit so it will now take in firms developing automated advice models within the mortgage, general insurance and debt advice sectors. It will also now accept firms that want to provide guidance instead of regulated advice as well as firms not intending to seek authorisation.
In your sector…
Financial advisers
MiFID II: Policy Statement II and Consultation Paper VI
Investment platforms market study
Live and Local – October events now available
General insurance intermediaries and insurers
Consumer Contracts – first undertaking received under the Consumer Rights Act 2015
Live & Local general insurance events announced
Mortgage advisers and lenders
FG: Treatment of politically exposed persons (PEPs)
Banks and building societies
CP: EU Benchmarks Regulation
PCBS Customer Understanding
Webpage update: Packaged Bank Accounts
PSD2 consultation on authorisation and reporting forms published
Guidance on using league tables in client pitches
Life insurance and pension providers
Retirement Outcome Review Interim Report
With-profits thematic review update
Investment platforms market study
Asset Management Market Study
Investment managers
CP: EU Benchmarks Regulation
MiFID II: Policy Statement II and Consultation Paper VI
CP: Asset management final report & remedies
Investment platforms market study
Wealth managers
CP: Asset Management Final report & remedies
MiFID II: Policy Statement II and Consultation Paper VI
Investment platforms market study
Consumer Credit
Live & Local regional events for regulated firms
Credit unions
FG: Treatment of politically exposed persons (PEPs)
Fintech and innovative businesses
PSD2 consultation on authorisation and reporting forms published
News and publications
Annual Report and Accounts 2016/17
CP: Review of Effectiveness of Primary Markets: Premium Sovereign Listing Segment
Consumer Contracts – first undertaking received under the Consumer Rights Act 2015
FG: Treatment of politically exposed persons (PEPs)
Read or download the full Regulation round-up: July 2017