In the latest edition of our UK Retail Finance Horizon Scanning report, we highlight recent industry updates and developments emerging in the following areas:
In the latest edition of our UK Retail Finance Horizon Scanning report, Eversheds Sutherland highlights recent industry updates and upcoming developments affecting the retail finance and mortgages sectors, including:
- Conduct: Financial Ombudsman Service reforms designed to create a more efficient, consistent and predictable consumer redress framework
- Consumer Credit: Financial Conduct Authority findings on firms’ readiness to implement the motor finance consumer redress scheme, alongside wider credit market reforms
- Mortgages: growing regulatory focus on physical climate risks and how they could affect insurance availability, property values and mortgage lending
- Innovation: the launch of the Financial Conduct Authority Handbook application programming interface, supporting automated regulatory monitoring and compliance
- Consumer Duty: developments relating to financial inclusion, vulnerable customers and access to appropriate financial products and services
The report also covers upcoming changes relating to non-financial misconduct, mortgage market reform, artificial intelligence governance and consumer credit financial promotions.
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