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Regulation Matters June 2020
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June 2020
Regulation Matters
Welcome to this edition of Regulation Matters covering regulatory updates which impact financial advisers. If you have any questions about any of the subject matters and would like further information on the additional service available to support directly authorised firms, please contact 0800 085 0825 .
Regulation Matters is produced by TenetSelect as guidance only and is based on their interpretation, it is not and should not be relied upon as professional or legal advice. TenetSelect does not accept any liability for any losses arising directly or indirectly in connection with any of the information contained within Regulations Matters to the extent it can be excluded by law.
2 | Regulation Matters - June 2020
IN THIS ISSUE
Who is it relevant to? Summary
Action recommended / for your information?
Subject
DB TRANSFERS – CONTINGENT CHARGING BAN & RELATED MEASURES
Firms undertaking
The FCA has now published its final rules (Policy Statement PS20/6) banning contingent charging from 1st October 2020.
Action Recommended
pension transfer activity
EQUITY RELEASE/ LATER LIFE LENDING
Firms with mortgage advisers undertaking equity release activity.
The FCA has published its key findings, concerns and actions for firms following their exploratory work on later life lending.
Action Recommended
RECOMMENDING THE CHEAPEST MORTGAGE
Firms with mortgage advisers Firms with mortgage advisers
FCA rules originally confirmed in January (Policy Statement PS20/1), come into force from 31st July 2020. The FCA has issued a call for mortgage intermediary firms willing to help ‘mortgage prisoners’ with their re- mortgage options. FCA announces the launch of an enhanced financial services register from 27th July 2020.
Action Recommended
FCA CALL FOR INTERMEDIARY HELP
For your information
FINANCIAL SERVICES REGISTER
All firms
For your information
NEW FCA >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22
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