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Industry round-up

At CICM, we want you to stay up-to-date and informed about current industry updates.

Use the tabs below to see the latest news in each category, and how it might impact you and your organisation.

 

 

 

 

 

 

 

 

The Financial Conduct Authority (FCA) has published proposals for changes to its mortgage sales requirements which will help to give consumers more choice in how they buy a mortgage.

Watch the latest video in the FCA series on Consumer Credit – Sales & Advice.

Consumer spending increased by 3.1% in March – read a Barclaycard report.

The Single Financial Guidance Body has commented on FOS compensation award limit increase – aimed at giving consumers  access to a higher level of compensation from financial services firms when a complaint is upheld.

 

 

 

 

 

 

 

 

The Money Advice Trust has welcomed the Treasury Select Committee’s wide-ranging report into consumers’ access to financial services.

Read the Christians Against Poverty Client Report – Changing Perceptions.

Take a look at the new Government guide which aims to help staff in financial services and utility companies act more consistently when they see powers of attorney and deputy court orders, and help identify adults at risk.

The Cabinet Office’s ‘Fairness Group’ has released a public statement on government treatment of people in debt.

Read the StepChange response to the FCA Feedback Statement following its Discussion Paper on a duty of care.

The Money Charity has announced that in May it will reach the 200,000th recipient of its financial education in a Money Workshop.

 

 

 

 

 

 

 

Read the latest figures from UK Finance’s Card Spending Update

Read edition number 24 of Cheque Matters – a newsletter produced by the Cheque & Credit Clearing Company.

Read the Pay.UK NPA Programme Industry Newsletter May 2019

It has been announced that  new funding will be made available to innovative businesses through funds supported by the British Business Bank. Read the press release.

TSB has become the first UK bank to pledge to refund customers who fall victim to any type of fraud.

Read the UK Finance and KPMG paper ‘Ethical use of customer data in a digital economy’.

 

Read the latest Lloyds Bank Business Barometer.

 

 

 

 

 

 

 

Read the Atradius Economic Update – May 2019

Read an Institute of Export & International Trade Guide for doing business in Russia.

Figures released by Office of National Statistics have showed that emerging markets continue to dominate the fastest growing markets for UK exporters. Read more.

 

 

 

 

 

 

 

 

 

A Special Administration Regime to allow insolvent airlines to continue to fly has been recently introduced. Read a reaction from R3.

Debenhams has entered administration – but what does it mean for the chain, and what is a pre-pack? Read R3’s guide here.

If you are a consumer and have ordered/pre-paid for goods with a company that has subsequently entered insolvency, what are your rights? Read an R3 guide.

 

 

 

 

 

 

 

 

Latest from the Office for National Statistics

Latest statistics from The Money Charity

Latest Bank of England statistics

Latest UK Finance statistics

Latest Insolvency Service statistics

Scotland’s insolvency statistics  from the Accountant in Bankruptcy

 

Some extra items you may find of interest:

 

The Authorised Push Payment Scam Voluntary Code (the Code), becomes effective on 28 May, all firms who sign up to it commit to reimburse victims of authorised push payment scams in any scenario where the customer has met the minimum standards expected of them under the Code. Read more about the Code here.

New policy to improve prompt payment that will apply to central government procurement from September 2019 – read more.

Companies House has released a Corporate Transparency consultation.  The proposals are aimed at enhancing the role of Companies House and increasing the transparency of UK companies to help combat economic crime. The Institute will be responding to this consultation – look out for ways you can assist us in the coming weeks.

The Financial Ombudsman Service has released its Annual Review.

Read the FCA’s latest Regulation Round Up  

 

 

*Information in each category is sourced externally, and is therefore not directly endorsed or validated by the CICM.