Without clarity on what the FCA’s expectations of the Financial Ombudsman Service are, and how, or if, they will be codified, we would be concerned that this could lead to a significant rise in cases brought against businesses through no fault of their own, so we will continue to engage with the FCA and other stakeholders to gain clarity.
As 2022 progresses, our other areas of work will include our second Diversity and Inclusion Awards in October, following a marked increase in focus on this issue from both government and the FCA, and a soon-to-be released paper on greater access to investment markets for retail investors, along with our response to the industry technological challenge.
Along with our continued focus on post-Brexit regulatory changes and the effects of the Russian invasion of Ukraine we will, as always, be there to help our members navigate an increasingly changing and challenging landscape.
Through the active involvement of our members, our strategy is relevant and timely, to the betterment of both our industry and their clients.
Liz Field is chief executive of Pimfa