Tag: Consumer Duty

After over a year since it was announced, the Consumer Duty legislation finally came into effect in the UK this week. How will it impact the RegTech space? 

Consumer Duty, a set of new rules aimed at enhancing consumer protection in the financial services sector, has come into force as of 31 July.

The UK's Financial Conduct Authority (FCA) recently released a ten-point checklist for companies in anticipation of the new Consumer Duty regulation set to be enforced on July 31, 2023. This regulation marks a pivotal shift in the regulatory landscape, impacting both new and existing services and products available for sale or renewal.

With the Financial Conduct Authority's (FCA's) Consumer Duty deadline just 50 days away, almost half of firms are unsure about the implementation timeline, a new Bovill survey indicates.

The implementation date of Consumer Duty is quickly approaching. Firms will need to be ready by 31st July 2023, but are firms going to be ready?

The Financial Conduct Authority (FCA) has disclosed its findings from a review of 14 fair value frameworks ahead of the Consumer Duty implementation in less than three months. RegTech platform Novatus Advisory has reviewed this and outlined the key takeaways for firms. 

As the deadline for the Financial Conduct Authority (FCA)'s Consumer Duty approaches, a startling 67% of lenders report feeling unsupported by the FCA.

Aveni claims it is leading a ‘new era of risk assurance’ by enabling 100% digitisation and automation of the Quality Assurance process.

Quality assurance (QA) is an important process for financial services. It ensures products and services are compliant and that they meet customer demands. Aveni, a UK-based RegTech platform, has set out to debunk eight assumptions around QA within financial services.

As regulatory pressures continue to mount, what are the biggest priorities? Aveni, a UK-based RegTech platform, has outlined the top five things financial services CROs are currently prioritising.