Financial Services weekly highlights—9 November 2023

Table of contents

• Authorisation, approval and supervision
• FCA warns wealth management and stockbroking firms of ‘more targeted, intrusive and assertive’ supervision
• Prudential requirements
• European Parliament announces ECON agreement on changes improving resolution framework for EU banks
• FSB’s European regional consultative group discusses banking turmoil, NBFI and outsourcing risks
• Financial stability
• Andrew Bailey makes case for global co-operation on financial standards
• Financial crime and sanctions
• NCA issues warning that Russia is using gold to evade sanctions
• FCA review says firms should strengthen anti-fraud systems and must treat victims of fraud better

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Article summary

This week's edition of Financial Services weekly highlights includes: Sara Cody’s Consumer Duty column—the FCA’s post-implementation approach; FCA warns wealth management and stockbroking firms of ‘more targeted, intrusive and assertive’ supervision; Government announces response to consultation on financial promotion exemptions; HMT extends the transitional period for third-country benchmarks in the UK, plus dates for your diary over the coming week.