Regulatory AlertsCP20/7: Quarterly Consultation Paper No 28
The Financial Conduct Authority proposes amendments to clarify that the Financial Services Compensation Scheme can declare firms subject to the new insolvency moratorium as in default to ensure consumer protection. The regulator also seeks comments on extending CONC 7 rules to Bounce Back Loan Scheme lenders to maintain fair debt collection standards for exempt agreements. Additionally, the FCA consults on expectations for professional body anti-money laundering supervisors regarding criminality checks for beneficial owners and managers under the MLRs.
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