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UK inflation as measured by the consumer prices index fell slightly to 10.1% in March, the Office for National Statistics (ONS) has reported. And while the return to a downward trajectory has been welcomed following an unexpected uptick in February, it’s still a long way off the 2% target. The March drop from 10.4%
As inflation and the base rate continue to increase, so does the issue of housing affordability, which is rapidly climbing the agenda of industry challenges. After a significant period of low rates and low inflation, the sudden spike came as a shock, with financial markets and individuals struggling to find balance
Advisers could be faced with up to 400 different variations in characteristic and circumstance that lead to customer vulnerability under Consumer Duty, MorganAsh warns.
In late January the Financial Conduct Authority issued a multi-firm review, with one of its conclusions being that some firms might struggle to enact the new Consumer Duty rules. There are just six months left before the deadline. The review is lengthy and, dictated by the large number of sectors it has to cover,
The Financial Conduct Authority is beginning to “flex its muscles” with notices issued to firms needing more data on vulnerability, Consumer Duty expert Andrew Gething has warned.