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NEWSLETTER: Hot on the heels of the UK budget, our Ocorian colleagues have been sharing some of their initial reactions, including implications for those with res non-dom status. As we continue to work through the detail and impacts, we will keep you informed.
Elsewhere, the FCA has set out its portfolio strategy for advisers and investment intermediaries. Over the next two years, the strategy lays out a thematic review of M&A activity and the rollout of new data requests as the regulator doubles down on its data-led initiatives. Alongside the raising of standards with the Consumer Duty, it’s safe to say the heat is being turned up.
As the Sustainability Disclosure Requirements timetable rumbles on, we’ve pulled together a handy overview of some of the adjustments firms have made to comply with the anti-greenwashing rule. We also cover the new labelling regime, and the temporary flexibility for naming and marketing rules until April 2025. With the rest of the timeline unchanged, you should be well on the road to preparing those all-important disclosures. Tune into our next webinar on the topic, with more information coming very soon.
Elsewhere, safeguarding enhancements for payments and e-money firms are revealed, with the FCA’s consultation paper laying out a set of interim rules, followed by a new CASS chapter. The timescales for introduction of the interim rules are quite tight, so it’s wise to start getting your head around the proposals sooner rather than later.
Finally, resilience continues to be an important theme, with the regulator calling out ‘future risks of harm’. We look across wind-down planning, liquidity, and horizon scanning, and where your attention is warranted.
As always, let us know if you need any help or support.
Rebecca Thorpe, Global Head of Regulatory Consulting and Aron Brown, Global Head of Regulatory & Compliance
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