FCA business plan focuses on Consumer Duty implementation Isna, July 6, 2024 The FCA has prioritized the protection of consumers and the promotion of effective competition within the financial services industry in its Business Plan 2024/25published today (19 March 2024). In the document, the regulator explained that it would continue to test higher standards for regulated firms by embedding the Consumer Duty and “take action where appropriate” to ensure market integrity. Nikhil Rathi, the regulator’s chief executive, added: ”We’ve already made significant progress in delivering towards the bold vision we set out in our strategy two years ago, including the game-changing introduction of the Consumer Duty and proposing the most far-reaching … Continue Reading
Over half of small and medium businesses plan to increase prices in next 12 months Isna, July 5, 2024 Photo: Small and medium sized businesses (SMEs) are feeling more upbeat about their own and the economy’s outlook, although a slight tone of pessimism still pervades amid rising costs. The latest look at the sector by accounting software company MYOB showed a net 3 percent think the economy will get worse before it improves, which compared to last year’s 53 percent pessimism level. MYOB general manager Emma Fawcett said sentiment was still having to contend with familiar headwinds. “The cost-of-living, inflation and interest rates, followed by changes in consumer confidence or spending, and the cost of fuel and transport, are … Continue Reading