A one-day target for finance firms to resolve customer complaints is to be abolished while premium rate charges will be banned.
The FCA says it is making decisions on whether to refer a firm or individual to its enforcement division for a formal investigation more ‘transparent’.
The Pensions Ombudsman has admitted it has been struggling to cope with rising demand as figures show a 42% increase in investigations over five years.
Comics are one of the “smarter and more effective” ways firms should be communicating with consumers, the FCA has suggested.
The FCA has set out options for measuring value of general insurance products following concerns about poor value and a lack of effective competition.
A £75m bill is heading the way of financial advisers to pay for the FCA in this financial year – a jump of 10.2%.
The FCA must fire a warning to firms that barriers stopping savers accessing their pensions are unacceptable, the Government has commanded.
Chancellor George Osborne has set out his ambitions to make Britain’s financial services sector the best regulated in the world and to have the highest standards.
The FCA fined firms over £1.47billion in 2014, which was about treble the amount of the previous year.
FCA chiefs have reiterated their desire today to tear down the obstacles blocking the path for finance firms wanting to use digital and mobile technology to innovate.
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