PIMFA WEEKLY NEWS BULLETIN

13 February 2022

PIMFA Transaction Reporting Working Group meeting

The next meeting of the Transaction Reporting Working Group (TRWG) will take place via MS Teams on Thursday 23 February, starting at 10:00.

Simon Appleton from Kaizen Reporting has kindly agreed to give an update on the transaction reporting issues he and his colleagues are encountering when working with firms and we will have a Q&A session for firms to raise issues and share information.

If you or your colleagues would like to join the meeting, please email KevinS@pimfa.co.uk and he will send you a calendar invite with MS Teams link.

FCA Consumer Duty Podcast –consumer support outcome

The FCA has published its fourth consumer duty podcast.

Here, the FCA’s policy expert Sean Cafferky discusses the principles behind the consumer support outcome, its impact on the channels of support firms should offer, what is meant mean by 'sludge' and 'appropriate friction', and how firms should review their customer journeys to help achieve good outcomes for consumers.

FCA: How we can help consumers cope during the cost of living squeeze

The FCA’s Sheldon Mills, Executive Director of Consumers and Competition, has released a new blog on what they’re doing to help consumers cope during the cost of living squeeze.

They will be using this new blog to regularly share updates on their work and you can subscribe to receive an email notification every time they post a new one.

The blog is available here

Latest PIMFA Press Releases

PIMFA calls for Financial Conduct Authority to have greater role in protecting public from fraud

PIMFA delighted to welcome Paul Stockton and Stuart Dodson to its Board of Directors

Consumer Duty a ‘watershed moment’ that firms must take seriously, FCA warns at PIMFA conference

PIMFA welcomes update from FCA on the FSCS levy but continues to argue for a “polluter pays” model

Changes to how firms log into FCA systems

Multi-factor authentication has now been introduced for the following FCA systems: Connect, Reg Data, Fees Portal and Shared Information Service.

The changes will also be introduced for the Electronic Submissions System from early March. Firms will now be prompted to register and turn on multi-factor authentication when they attempt to log in.

More detail is available here

PIMFA Press Coverage

Actuarial Post: PIMFA calls for FCA to have greater role in fraud protection

FT Adviser: What will the Edinburgh reforms mean for advisers?

Professional Paraplanner: FCA financial promotions clamp down welcomed but more needed, says PIMFA

The Wealth Net: PIMFA joins TikTok

See more of PIMFA in the press

Read more press releases here