The legal status of cryptocurrency in the UK presents a nuanced landscape. While cryptocurrencies are legal to buy, sell, and hold, they are not recognized as legal tender. Understanding the legal context and regulatory framework surrounding cryptocurrencies is crucial …
Category Archives: Info
What is the Meaning of Consumer Duty in the UK?
The Consumer Duty in the UK, introduced by the Financial Conduct Authority (FCA), marks a pivotal shift in regulatory expectations for financial services firms. This framework is designed to enhance consumer protection by setting higher and clearer standards, ensuring …
How Do You Wind Down a Business Properly?
Winding down a business is a comprehensive process that involves several crucial steps, each tailored to the financial status of the business. Whether the business is solvent or insolvent, proper closure ensures that all financial obligations are met, stakeholders are …
What Does Winding Up a Company Involve?
Winding up a company is a formal legal procedure through which a company’s affairs are concluded, its assets liquidated, and it is removed from the official Companies House register. This process is essential to ensure that all obligations are settled …
What Are the Principles of Consumer Duty by the FCA?
The Consumer Duty, introduced by the Financial Conduct Authority (FCA) in 2023, represents a significant shift in how financial services firms must operate to protect consumers. The framework outlines specific principles that aim to deliver good outcomes for consumers, …
How Can Firms Comply with the Consumer Duty?
The Consumer Duty is a transformative regulation introduced by the Financial Conduct Authority (FCA) in the UK, aimed at raising the standard of consumer protection across financial services. It places the onus on firms to deliver good outcomes for retail …
How Are High-Risk Investments Regulated in the UK?
In the United Kingdom, the regulation of high-risk investments is a critical focus for the Financial Conduct Authority (FCA), designed to protect consumers and ensure the integrity of financial markets. This regulatory framework involves a detailed set of rules and …
What Changes Did the Consumer Duty 2023 Introduce?
The Consumer Duty 2023 marks a pivotal shift in the regulatory landscape of the UK financial services sector. This comprehensive overhaul, introduced by the Financial Conduct Authority (FCA), aims to significantly enhance consumer protection and ensure that financial firms deliver …
How Do I Find the FCA Contact Number?
Finding the Financial Conduct Authority (FCA) contact number is crucial for individuals seeking assistance or information related to financial services. The FCA is the regulatory body overseeing financial markets and firms in the UK, ensuring that consumers are protected and …
What Does FCA Principle 12 Require from Firms?
FCA Principle 12 is a fundamental component of the Financial Conduct Authority’s (FCA) Consumer Duty framework. This principle mandates that firms “act to deliver good outcomes for retail customers,” ensuring that financial products and services consistently meet high standards of …
What is a Redress Payment in Financial Disputes?
In the realm of financial services, a redress payment serves as a vital mechanism to address grievances and restore consumer satisfaction. It represents compensation provided to individuals who have suffered loss or detriment due to the actions or failures of …
Why Should You Invest in the Current Market?
In today’s ever-evolving financial landscape, making the decision to invest can be both a strategic and rewarding move. Despite market fluctuations and economic uncertainties, there are compelling reasons why investing in the current market can be advantageous. This article delves …