TSC has published the transcript of the hearing held on 8 May 2024 attended by Nikhil Rathi and Ashley Alder.  Topics include: FCA’s enforcement consultation; debanking; motor finance; the Consumer Duty; MiFID II; access to cash; bank branch closures; pen­sions.

Text of Emily Shepperd’s speech of 9 May 2024 follows in which she discusses the building societies sec­tor.

FCA has now published this letter setting out results for 2022/23 which notes that over half of the AML/CTF reports from professional body supervisors were found to be clearer and improved compared to the previous period.  No reports had declined in overall quality and positively, for the first time, several of the reports were assessed to effectively meet all the suggested criteria.  The letter also sets out areas for further im­prove­ment.

The Bill passed at third reading on 10 May 2024 and has now been sent to HoC.  A link to the transcript of the third reading debate fol­lows.

Sec­tion 5(5) of the Crime and Courts Act 2013 (c. 22) gives the Director General of NCA the power to direct that certain persons perform a task.  Article 3 of this Order amends s5(5) of the Act to add the Director of SFO to the list of persons who can be directed under this power. Article 4 specifies that a direction can only be given to the Director of SFO if it appears to the Director General of NCA that the matter involves serious or complex fraud. Article 5 specifies that a direction cannot be made in respect of the prosecution functions of the Director of SFO.  (Date in force: 10 May 2024)