The Duty Never Sleeps

Welcome to Beyond the Buzz

In this episode of Beyond the Buzz, Rachel MacRae and Vicky Pearce unpack another busy week in financial services regulation, covering a significant FCA enforcement action against a former wealth management director who continued advising on defined benefit (DB) pension transfers without the required professional indemnity insurance.

They discuss why the FCA considered the conduct a serious failure of integrity, the wider implications for advisers and firms, and what the case reveals about the regulator’s ongoing focus on accountability and consumer protection.

The conversation also explores the FCA’s latest Consumer Duty warning during the cost of living crisis, including the steps firms should be taking to monitor customer outcomes, support vulnerable customers, and reassess whether products and services continue to deliver fair value.

Alongside this, Rachel and Vicky examine the FCA’s upcoming review of bereavement processes, Nikhil Rathi’s call for a more coordinated approach to tackling financial crime, and the potential impact of measures outlined in the King’s Speech, including the proposed Enhancing Financial Services Bill.

It’s a practical discussion on regulatory expectations, governance, and the actions firms should be taking to remain compliant in an evolving regulatory landscape.

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