Weekly highlights—18 May 2017

Weekly highlights—18 May 2017

Welcome to the weekly Financial Services highlights from the Lexis®PSL Financial Services team for the week ending 18 May 2017.

Financial Conduct Authority updates

FCA increases functionality on Handbook website

On 11 May 2017, the FCA launched new features on its Handbook website that will allow users to search by key topics within the Conduct of Business Sourcebook (COBS). At the moment the new features only apply to COBS, but the FCA wants to roll them out to the whole of the Handbook, depending on user feedback.

FCA director discusses regulator’s role in promoting innovation

On 11 May 2017, the executive director of strategy and competition at the FCA, Christopher Woolard, gave a speech on how regulators think about competition and regulation, how they approach their competition duties and powers, and how they promote innovation.

FCA to conduct strategic review of retail banking business models

On 11 May 2017, the FCA announced it is to evaluate the impact of economic, technological, social and regulatory changes on competition and conduct in the retail banking sector. It is conducting the review in order to understand how the changes affect retail banking business models, and the implications for the FCA objectives to protect consumers and promote effective competition, with the ultimate aim of ensuring its regulatory approach remains fit for purpose.

Regulatory architecture

Council of the EU approves plan for consumer role in FS policymaking

On 11 May 2017, a new programme to promote the involvement of consumers in policymaking in financial services was approved by the Council of the EU. The programme follows on from moves to restore confidence in the financial sector in

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About the author:
Prior to joining LexisNexis in 2016 as a paralegal, Lauren was an adjudicator at the Financial Ombudsman Service. There she resolved consumers’ complaints, and gained knowledge about a wide variety of financial products. Before this she studied Law at Nottingham Trent University.