The FCA’s consultation CP26/23 will interest wholesale firms that do not directly serve retail clients but felt forced to change their business when the Consumer Duty was first introduced.
PRIN
Consultation aims to streamline compliance by moving financial promotions under Consumer Duty umbrella.
The FCA plans to extend the High-Level Standards in the FCA Handbook to cryptoasset firms in line with FSMA-authorized entities.
Under the proposals, all firms wishing to carry out regulated cryptoasset activities will be required to obtain FCA authorization.
New rule protects consumers by ensuring sustainable products and services are accurately described.
The guidance is consistent with work in other jurisdictions to address greenwashing.
The FCA will be responsible for regulating pensions dashboard services and is consulting on a new regulatory framework for firms providing these; the consultation closes on 16 February 2023.