FCA has published its latest data bulletin, highlighting areas of interest for users. This edition covers:
- retirement income market data: highlighting key points from FCA’s recent report as part of the commitment to monitor and assess the impact of the pension reforms;
- consumer credit authorisations: providing an update as at 30 September 2015 on the authorisation process for consumer credit firms. FCA is progressing applications well, and has determined 95% of applications positively. However, over 1,000 applicants have withdrawn from the process. FCA refused 28 applications. Most of the authorisations it has granted to date are for credit brokers;
- updating on the latest figures for complaints received against FCA;
- statistics about FCA reviews and actions on certain financial promotions;
- how FCA uses attestations to ensure that firms are focused on resolving specific issues. This includes breakdowns by firms’ categories and sectors; and
- using skilled person reports to conduct independent reviews of regulated firms. FCA has now started requiring skilled persons reports in relation to consumer credit firms.
(Source: FCA Data Bulletin – Issue 5)