Many firms had taken positive action but ‘areas for improvement remain’
Consumer Duty remains central to the FCA's strategy
‘The FCA should be careful what it wishes for’
SEI restricted from launching products and onboarding institutional clients
Target market an expected focus as propositions have ‘questions to answer’
FCA also starts criminal proceedings against firm's business operations manager
Regulator finds 10% of sampled firms may not have adequate cover in place
Regulator looks to 'end duplication'
Regulator recognises the sector has been ‘growing at pace’