In this edition, we discuss general election and party manifestos on future plans for financial services. Additionally, we provide updates on the Wider Implications Framework Annual Report 2023/24 and the publication of the Digital Markets, Competition and Consumers Act 2024 and what this means for financial services firms.
With the general election looming, in this edition we take a closer look at the manifestos and the future plans of the political parties for UK financial services, in particular the key areas impacting the consumer finance sector.
Read what these future plans are
The Wider Implications Framework (the Framework) has recently published its second annual report. In the section below we provide an update on this report outlining the workstreams that have been progressed under the Framework, as well as adjustments to the Framework's focus areas.
Read here to know further on the regulators' focus areas
On 3 June 2024, the Digital Markets, Competition and Consumers Act 2024 (DMCCA) was published on legislation.gov.uk. The DMCCA amends the Competition Act 1998 and the Enterprise Act 2002 to boost competition in digital markets currently dominated by a small number of firms. In the following section we discuss some of the key changes brought by the DMCCA and how these changes will impact financial services firms.
Click here to see how these changes will impact your firms
If you would like to get in touch or for more information on any topic in this newsletter, please email us.
For more information on our Regulatory Essentials programme, please visit our Financial Regulation page on our website.
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