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Listen "Episode 78 | Regulatory update: Expanding accountability and evolving boundaries"
Episode Synopsis
In this episode David Morrey and Ben Farmer discuss the Financial Conduct Authority's (FCA) new rules on tackling non-financial misconduct. The rules, which previously only applied to banks, will be extended to 37,000 non-bank financial service firms from September 2026.
The conversation covers:
CP24/27: advice guidance boundary review from the FCA – the implications and long-term risks of targeted support for firms and the role of the Financial Ombudsman Service (FOS)
DP25/2: the FCA's mortgage rule review and rebalancing risk appetite in the market
CP25/19: ancillary activities test and chapter 6 systematic internalises from the FCA, which aim to dilute MiFID II rules
the FCA's payments Consumer Duty multi-firm review, highlighting criticisms similar to those faced by insurance and investment firms
the FOS's annual complaints data and insights 2024/2025
the FCA's whistleblowing data
buy now pay later regulation – how the FCA is cracking down on non-financial misconduct.
The conversation covers:
CP24/27: advice guidance boundary review from the FCA – the implications and long-term risks of targeted support for firms and the role of the Financial Ombudsman Service (FOS)
DP25/2: the FCA's mortgage rule review and rebalancing risk appetite in the market
CP25/19: ancillary activities test and chapter 6 systematic internalises from the FCA, which aim to dilute MiFID II rules
the FCA's payments Consumer Duty multi-firm review, highlighting criticisms similar to those faced by insurance and investment firms
the FOS's annual complaints data and insights 2024/2025
the FCA's whistleblowing data
buy now pay later regulation – how the FCA is cracking down on non-financial misconduct.
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