Insights
Analysis & Perspectives
Tech-enabled solutions for motor finance redress
The FCA’s June 2025 communication highlighted practical preparation for a possible motor finance consumer redress scheme. Firms can use technology to identify affected customers, manage workflows and support reporting.
The FCA’s focus on promoting the responsible use of AI
The FCA is supporting firms to invest in AI responsibly as part of its growth and innovation agenda. Firms should choose AI that reflects financial services context, customer outcomes and regulatory accountability.
Part 3: FCA’s ongoing advice services review: long term compliance and RegTech
TCC sets out its house view on past business reviews, proportional evidence work, redress considerations and longer-term compliance for ongoing advice services.
Part 2: FCA’s ongoing advice services review: the next steps for wealth managers
TCC sets out the evidence firms need for completed reviews, declined engagement and missed reviews, and why MI must support both historic and forward-looking action.
Part 1: FCA’s ongoing advice services review: the scope
TCC interprets the FCA’s ongoing advice review findings through three client categories and the evidence wealth managers need to support each one.
FCA ongoing advice review presents better than expected findings
The FCA’s ongoing advice review gave the sector encouraging self-reported results, but firms should avoid complacency. Evidence quality, client categorisation, management information and sustainable review practices remain central.
What risks remain for firms following the FCA’s ongoing advice review findings?
Recordsure’s webinar with TCC regulatory experts sets out the remaining risks after the FCA’s ongoing advice review findings, with focus on evidence, review quality, chronology, backward-looking assessment, future preparation and disengagement strategies.
Compliance Q&A: How can firms keep their ongoing advice services compliant?
In the final Compliance Q&A, David Boyhan says firms need both current process improvements and historical MI checks to keep ongoing advice services compliant. He highlights client agreements, fair value assessments, disengagement processes, redress and evidence of good outcomes.
Compliance Q&A: How do the FCA’s review findings relate to the Consumer Duty?
In part four of the Compliance Q&A series, Garry Evans asks David Boyhan how the FCA’s ongoing advice findings relate to Consumer Duty. David says firms need evidence-backed MI, including historical data, to demonstrate good outcomes and prepare for FCA…
Compliance Q&A: How should firms be considering quality and suitability of advice?
In part three of the Compliance Q&A series, David Boyhan says the FCA’s focus on whether ongoing reviews happen should not distract firms from advice quality and suitability. He suggests risk-based review, especially where clients receive no-change reviews.
Compliance Q&A: What should firms do about disengaged clients?
Advice firms should review client data back to January 2018, identify whether services were paid for but not received, and define a structured disengagement process.
Compliance Q&A: What are the key findings from the FCA’s ongoing advice review
The FCA’s ongoing advice findings were generally positive, with no mandated industry-wide past business review expected. Firms still need to address clients who did not engage or were not invited to engage.
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Proven outcomes in practice
Major UK retail bank
Improving oversight and QA across mortgage advice
Read case study: Improving oversight and QA across mortgage advice
Major UK Tier 1 bank
Improving QA oversight and reporting across business banking conversations
Read case study: Improving QA oversight and reporting across business banking conversations
Government Department — UK
Digitalising interview recording to reduce cost and improve efficiency.
Read case study: Digitalising interview recording to reduce cost and improve efficiency.