Regulatory Updates Archives - Create Solutions

FCA Publication: Review into Claims Management Practices

Claire Ward — Wed, 13 May 2026 12:09:22 +0000

If you’re a CMC, this is a clear signal to act now.

We’re supporting firms to:

Understand where they stand against FCA expectation
Identify gaps, risks and opportunities

This review touches multiple areas – Governance and oversight SMFs, Compliance, Risk, Operations, Complaints and Marketing all need to be aligned.

For a no-obligation conversation email karen@createsolutions.co.uk or call the office on 0161 870 6637

Read the FCA publication here…

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Important Update: Insurance Regulatory Priorities Report (RPR)

Claire Ward — Thu, 07 May 2026 10:34:37 +0000

Many of you will have received an email from the FCA or noticed a new return showing on your RegData schedule this morning. There was no advanced notice of this return.

The return asks you to confirm that the appropriate stakeholders and senior leadership at the firm have received the Insurance Regulatory Priorities Report that was issued February 2026. A link to this report is here: https://www.fca.org.uk/publication/regulatory-priorities/insurance-report.pdf

Any significant information from this report has already been provided to you in various bulletins.

Firms are required to consider the report carefully, agree and implement any required actions and acknowledge this via the RegData return. In effect the RegData return is an attestation.

We will be in touch with further guidance.

Your Create Solutions Team

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FCA Publication: Inactive Appointed Representatives or IAR’s

Claire Ward — Wed, 22 Apr 2026 13:59:58 +0000

The FCA issued a publication yesterday and if you have Appointed representatives, or Introducer Appointed Representatives then this is relevant

They have indicated Good Practice and areas for improvement

Which they have identified as part of their supervisory work related to inactive appointed representatives – see below

FCA review: inactive appointed representatives

The FCA has published a review on the risks linked to appointed representatives who are not carrying out regulated activity.

The key message is that principal firms must maintain effective oversight, keep clear records, and act promptly where an AR or IAR is inactive or no longer appropriate to remain in the network.

The FCA expects firms to understand why an AR is inactive, monitor activity closely, and ensure regulatory returns are accurate and up to date.

It also highlights the risk of consumer harm where inactive ARs remain visible on the register and could create a misleading impression of regulatory protection

Principal firms should review their AR and IAR arrangements, strengthen monitoring where needed, and take timely action if relationships are not working as intended.

A reminder…

Good practice for AR oversight from FCA

The FCA’s good practice for principal firms overseeing Appointed Representatives is to use active, evidence-based monitoring rather than relying on basic checks or self-certification alone.

Key good practices include:

Keeping clear written records of oversight activity, reviews, and self-assessments, signed off by the Board/equivalent.
Using a range of management information, such as file reviews, customer complaints, revenue trends, website checks, customer surveys, in-person visits, and some may mystery shop
Regularly review your AR agreements, business activities, and senior management changes, and making sure the AR remains within scope.
Ensure formal onboarding, due diligence, training, and ongoing monitoring that considers Consumer Duty and the risk of consumer harm.
Acting promptly where issues are identified.

The FCA also said poor practice includes a tick-box approach, over-reliance on website checks or AR self-declarations, and weak board-level oversight

If you have any questions, please do not hesitate to contact Create Solutions, email matt@createsolutions.co.uk or call the office on 0161 870 6637

Document in your management meeting/board meeting that you have reviewed the enclosed and action taken (where relevant)

You can read the FCA’s full review here…

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FCA & ICO Joint Publication: Regulatory Expectations

Claire Ward — Tue, 07 Apr 2026 11:26:48 +0000

The FCA and the ICO (Information Commissioners Office) issued a joint statement on the 27th March 2026 outlining regulatory expectations for firms handling vulnerability-related data.

The statement supports firms in delivering good outcomes for customers in vulnerable circumstances under the Consumer Duty, while maintaining confidence in the lawful, fair and responsible use of personal data. It emphasises the importance of data sharing, robust governance and clear processes to ensure both effective customer support and compliance with data protection requirements.

Read the full statement here…

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FCA Publication: Customer Understanding

Claire Ward — Tue, 07 Apr 2026 11:01:52 +0000

The FCA published its Customer Understanding: Good Practice and Areas for Improvement review on the 13th March, highlighting how firms can better support customers making informed financial decisions. The findings emphasise the importance of clear, fair and accessible communications, alongside ongoing testing and adaptation to meet diverse customer needs.

The review also shares practical examples of effective approaches, helping firms strengthen outcomes in line with Consumer Duty expectations.

Read the publication here…

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FCA Statement released: Key considerations

E_Create_123 — Mon, 30 Mar 2026 17:36:00 +0000

Today marks a significant escalation in regulatory scrutiny across the motor finance claims market.

The Financial Conduct Authority (FCA) has announced a joint taskforce with the Solicitors Regulation Authority (SRA), Information Commissioner’s Office (ICO), and Advertising Standards Authority (ASA)—a coordinated move designed to tackle poor practices in high-volume motor finance claims.

This is not business as usual. It is a clear signal that regulators are aligning enforcement, intelligence, and expectations in response to growing consumer harm risks.

Why this matters now

The announcement coincides with the FCA’s imminent motor finance redress scheme, expected to deliver billions in compensation to consumers impacted by historic commission practices.

Crucially, the FCA has been explicit:

The scheme will be free for consumers to access
Consumers do not need to use claims management companies (CMCs) or law firms
Using representatives could result in fees of up to 30% of compensation

Despite this, the regulator has identified widespread issues in how claims are being marketed, sold, and handled.

The focus of the taskforce

The joint taskforce will target four key areas of concern:

1. Misleading and unsolicited marketing

The involvement of the ASA and ICO is telling. Regulators are responding directly to:

Misleading advertisements about entitlement or value of claims
Cold calling, texts, and emails without valid consent

The ICO has reiterated a simple standard: unsolicited direct marketing without consent is unlawful.

Low-merit and bulk claims

The FCA is concerned about “meritless claims” being submitted at scale.

This creates:

Operational strain on firms and the wider system
Delays in legitimate customer outcomes
Increased conduct risk for firms submitting or facilitating weak claims

Multiple representation

Consumers signing agreements with multiple representatives risk:

Duplicate fees
Confusion over representation
Poor overall outcomes

This is a known issue in previous mass claims events—and regulators are moving early to prevent repeat harm.

Unfair fee structures and exit fees

Fee transparency and fairness are under direct scrutiny.

The FCA has already:

Forced changes to misleading adverts
Enabled over 28,000 consumers to exit contracts without charge
Pressured firms to reduce unreasonable fees

A shift to coordinated enforcement

The message is clear: commercial models must stand up to regulatory challenge.

Perhaps the most important development is structural.

This is not just FCA conduct supervision. It is multi-regulator enforcement, combining:

FCA (conduct and CMC regulation)
SRA (law firm oversight)
ASA (advertising standards)
ICO (data protection and marketing practices)

The taskforce will share intelligence and take coordinated, targeted action using the full extent of their powers.

For firms, this means risks are no longer siloed:

A marketing issue can become a data breach issue
A fee issue can become a conduct and legal services issue
A claims handling issue can trigger multi-agency investigation

Implications for firms

Firms operating in motor finance claims—whether CMCs, law firms, introducers or lead generators—should act now.

At a minimum, firms should review:

Marketing compliance: Are communications clear, fair, and not misleading?
Data practices: Is consent valid, evidenced, and compliant with PECR/GDPR?
Claims quality: Are submissions properly assessed and evidenced?
Fee models: Are charges transparent, proportionate, and defensible?
Customer outcomes: Do processes genuinely deliver fair value?

This is particularly important given the scale of the redress scheme and the likelihood of high claim volumes and heightened regulatory attention.

Straight to the point

The FCA has drawn a line.

Consumers can claim for free.
Poor practices are already being identified.
And regulators are now working together—quickly and decisively.

For firms, this is the moment to move beyond technical compliance and focus on substance, governance, and customer outcomes.

Because in this market, enforcement is no longer theoretical.

It is coordinated. It is active. And it is happening now.

At Create Solutions, we offer straight to the point, no nonsense compliance and we are here to help.

Contact us now to find out how we can help you.

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FCA Reminder: Is Your Firm’s Information Up to Date?

E_Create_123 — Fri, 06 Mar 2026 13:12:00 +0000

The FCA has recently refreshed its guidance reminding firms of something that sounds simple but is critically important: keeping your firm’s information accurate and up to date.

It’s easy to see this as an administrative task that gets pushed down the priority list. However, the FCA views the accuracy of firm information as a key part of regulatory transparency and consumer protection.

In short – the information the FCA holds about your firm must always be correct.

Why this matters

The FCA maintains records of regulated firms and individuals through the Financial Services Register, which is publicly available. This register shows details about firms, permissions, trading names, and individuals performing regulated roles. Consumers, partners and other stakeholders rely on this information to check whether they are dealing with an authorised firm.

If information is incorrect or out of date, it can lead to confusion for customers, issues during supervisory work, and unnecessary regulatory questions.

Firms are responsible for keeping their information up to date

The FCA’s guidance makes it clear that firms must ensure the information the regulator holds about them is accurate and updated when things change. This includes key details such as contact information, trading names, permissions, and other firm data held on the Financial Services Register.

In addition, many firms must complete regular attestations to confirm that the information held by the FCA is correct. For example:

Firms must confirm or update their Firm Details annually, usually within 60 business days of their Accounting Reference Date.
Firms submitting Directory Persons data must complete a Directory Persons’ Attestation (DPA) confirming the FCA’s records remain accurate.

Even if nothing has changed, the FCA still expects firms to log in and confirm that the information is correct.

Don’t forget to check the MyFCA portal

Many firms will already be familiar with the FCA’s MyFCA portal, but if you haven’t logged in recently, now is a good time to take a look.

MyFCA acts as a central access point for authorised firms, bringing together systems such as Connect, RegData and Online Invoicing. Importantly, it also provides a clear overview of your firm’s regulatory tasks, attestations and upcoming deadlines.

The homepage shows scheduled tasks and due dates, helping firms see what needs to be completed and when.

From a governance perspective, this is a helpful dashboard for compliance teams and senior management. It ensures nothing slips through the net and provides visibility of upcoming regulatory obligations.

A simple but important compliance check

At Create Solutions, we often find that issues arise not from complex regulatory changes, but from the basics being overlooked.

Take a few minutes to complete the below steps, can prevent unnecessary problems later:

Log into MyFCA
Review your scheduled tasks
Check the firm details held by the FCA
Ensure your Directory Persons information is correct

Our advice

If you haven’t already done so recently, make it a quick compliance task this week to log into MyFCA and review what appears on the homepage.

Check what tasks are coming up, ensure key firm information is accurate, and confirm that the right people within your business have access to manage these responsibilities.

Sometimes compliance really is about the fundamentals.

Straight to the point. No nonsense. Here to help.

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The FCA – Consultation CP25/13

Claire Ward — Tue, 10 Jun 2025 09:57:27 +0000

The FCA – Have today opened a consultation CP25/13 into improving the complaints reporting process and. Click link for further details…CP25/13: Improving the complaints reporting process | FCA

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NEW Consumer Duty Tool!

Claire Ward — Fri, 06 Jun 2025 10:45:32 +0000

Create Solutions is proud to partner with Actus and collaborate our expertise and shared values to bring a new tool to the market called Actus Oversight.

We have been instrumental in helping Actus understand the Insurance industry, particularly in relation to the Consumer Duty which has resulted in the introduction of this NEW powerful tool ACTUS Oversight. (A new Consumer Duty tool).

This NEW innovative tool is a recent addition that delivers clear, measurable benefits and is a valuable asset to include in your toolkit. It significantly reduces the administrative burden on your compliance and senior management teams, while enhancing oversight. By providing real-time insights, it enables leadership to stay informed and effectively monitor performance in delivering positive outcomes for customers.

It’s a tool that you will wonder how you ever managed without it – like a builder has a drill, spirit level and measuring tools – this is your equivalent.

For more information on how Actus can help contact them here. Or speak to Create Solutions on 0161 870 6637 and speak to Karen Shenton ACII or email Karen@createsolutions.co.uk.

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FCA launches 5-year strategy to support growth and improve lives

Claire Ward — Tue, 25 Mar 2025 17:16:39 +0000

The Financial Conduct Authority (FCA) has launched a 5-year strategy to transform the UK’s financial landscape. The strategy focuses on becoming a smarter regulator, supporting economic growth, helping consumers navigate their financial lives, and fighting financial crime.

Key leaders emphasize the importance of trust and efficiency in regulation, aiming to create a more dynamic and responsive financial services sector.

The new strategy builds on the FCA’s accomplishments from its previous 3-year plan. These achievements include implementing the most significant changes to the listing regime in over 30 years to facilitate easier capital raising for companies, introducing the Consumer Duty to enhance consumer protection standards, expediting the authorisation process for firms that meet the regulator’s stringent criteria, and preventing more potentially harmful firms from entering the financial services sector.

Overall, the strategy is designed to balance risk, support growth, and improve financial outcomes for consumers, while maintaining a strong focus on trust and efficiency.

For more information on the FCA’s 5-year strategy, visit their website here. Download the strategy document here.

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