The hot topic in the July round-up is improving accountability in the banking sector following publication earlier this month of the final rules on the new Senior Managers and Certification regime. Also of interest are:

  • Thematic review on quality of debt management advice (TR15/8), in which the FCA reviewed fee-charging and free-to-customer debt management firms and found that although many firms have made an effort to improve their practices over the past year, the quality of the advice by some fee-charging debt management firms was unacceptably low.
  • Thematic review on embedding the Mortgage Market Review (TR15/9) which found that some firms deliver customer advice with little or no structure, failing to ensure they had sufficient understanding of customers’ needs and circumstances and placing heavy reliance on completion of point-of-sale application systems, allowing little flexibility for advisers to apply judgment or adapt delivery to meet customers’ needs.
  • A new study to analyse data and research to find out if the credit card market is working well for consumers.  A report is expected to be published in the autumn.
  • The FCA Mortgage Conference which is to take place on 7 September 2015.  The aim of the conference is to open the debate on affordable housing, the aging population and over-indebtedness and what these topics mean for the future of the mortgage market.

The Regulation round-up can be read in full here.