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Read the latest commentary from RFS

The sale and after-sale care relating to Packaged Bank Accounts (PBAs) has been high on the regulatory agenda over the past few years, culminating in the publication of the FCA’s thematic review TR16/8. Almost one…
Automation is now a reality for financial services organisations. Advancement in machine learning means that many human processes can be replaced, and as this technology improves so will the ability to handle more complex tasks.…
The issue of vulnerable customers is still high on the regulatory agenda. The Vulnerability Task Force, set up last year, continue their work to promote better understanding whilst firms work hard to understand what ‘good’…
Last year, in our article Is a final PPI storm coming?, we considered whether firms could anticipate a final bluster of PPI related complaints. Now that a time-bar has been announced, and guidance on Plevin…
At the end of February the FCA closes its latest consumer research ‘The Financial Lives 2017 Survey’. It will be interesting to see what outputs emerge from this and there may be some clues in…
On 13 October 2016 The Criminal Finances Bill was introduced to the House of Commons. The Bill signals significant changes to the way the government will now tackle money laundering and corruption, recover the proceeds of crime…
A report published last year by the Treasury and Home Office concluded that the size and complexity of the UK financial sector puts it more exposed to financial crime than many other jurisdictions. Reducing and…
Following the independent review of claims management regulation, the Government has announced that the regulation of Claims Management Companies (CMCs) will transfer to the Financial Conduct Authority (FCA). The date for the transfer will be…
“A firm must establish, implement and maintain adequate policies and procedures sufficient to ensure compliance of the firm, including its managers, employees and appointed representatives (or, where applicable, tied agents) with its obligations under the…
The FCA thematic review of the treatment of long standing customers in the insurance market has the potential to create disruption for firms and the market. One of the main purposes of the FCA review…
The Energy Supply Sector shares many characteristics with Retail Banking and may even be on a similar trajectory of increasing regulatory pressure. Energy Suppliers are overseen by powerful regulators and ombudsmen, they have high volumes…
The latest reports suggest that as many as 1 in 3 adults in the UK feel financially vulnerable. This is in stark contrast to the perspective of firms who typically identify only around 1 in…
In June 2017 the Fourth European Money Laundering Directive (MLD4) becomes mandated in the UK. MLD4 has been introduced to align the EU framework with international anti-money laundering and counter terrorism measures. Whilst this new…
The FCA recently re-visited the Mobile Phone Insurance market to assess whether firms had implemented their recommendations from the 2013 thematic review. Whilst the firms who had participated in the 2013 review had implemented recommendations…
Events in 2015 have created a great deal of speculation around the future of PPI. Having lasted for over a decade will there be a final bluster as the PPI storm blows itself out? The…