The Government notes that it will ensure that the pensions industry designs, funds and launches a pensions dashboard by 2019 and commits to recommendations made for it in the final FAMR report published earlier this week. The intention to restructure the Money Advice Service, the Pensions Advisory Service has been announced with the publication of a consultation on public financial guidance (second link below). Responses are required by 8 June 2016. A summary of responses with regard to the consultation on pensions tax relief published last September has been published (third link below).

This House of Commons library briefing paper sets out FAMR’s recommendations and explains the background to the RDR; its possible consequences and includes the first independent review of how the RDR has affected the sector two years on.

FCA has published details of instruments passed at Board meetings on 5 and 25 February 2016. These are: Benchmarks (Amendment No 2) Instrument 2016/8, Handbook Administration (No 40) Instrument 2016/9, Accountability (Conduct Rules) (Breaches Reporting) Instrument 2016/10, Accountability (Foreign Branches) (Amendments) Instrument 2016/11, Fees (Handbook Separation) Instrument 2016/12, UKLA Fees and Other Fees Instrument 2016/13, Retail Distribution Review (Miscellaneous Amendments) Instrument 2016/14, Handbook Separation (Insurance) Instrument 2016/15. With regard to the Instruments concerning accountability, it is noted that a PS will be published in March 2016. Instruments may be downloaded via the second link, once available.

TSC has published the transcript of a session held on 28 October 2015 with evidence representatives from all of FCA’s statutory panels. Specific topics include: competition, FSCS, communications within FCA,FCA leadership, international issues, RDR, FAMR, pension reforms and PPI.

FCA has published details of instruments passed at various FCA and FOS Board meetings in July 2015. Instruments passed at FCA Boards are: Competition Law Infringement (Disclosure) Instrument 2015/38, Complaints Handling and Call Charges Instrument 2015/39, Retail Distribution Review (Platforms) (Amendment No 3) Instrument 2015/40, Mortgage Credit Directive (Amendment) Instrument 2015/41, Consumer Credit (Mortgage Credit Directive) Instrument 2015/42. Instruments passed at FOS Boards are: Complaints Handling (Financial Ombudsman Service) Instrument 2015/7 and Fees Manual (Financial Ombudsman Service Case Fees 2015/16) Instrument 2015/8. Instruments may be downloaded via the second link

FCA has published minutes of its meeting on 11 December 2014. Topics include: decisions not to refer cases to Enforcement and RDR post implementation review.

FCA has announced that the first stage of the review, together with thematic work into the disclosure of ongoing services and charges, has found that financial advisers are offering investors an increasingly professional service tailored to their inpidual needs and that there has been a reduction in product bias. However, although product and platform costs have broadly fallen, adviser charges appear not to have decreased. TR14/21, which was published today along with accompanying research papers, found material improvements in how firms disclose the cost of their advice, their scope of service, and the nature of their services to clients, but that further improvements are needed, particularly in the way that the cost, in cash terms, of ongoing services is disclosed. FCA notes that one firm which had been included in this round of supervisory work has been referred to Enforcement. FCA will be undertaking a series of next steps, in light of the review’s findings, in 2015, with a third stage of the review to follow in 2017. In 2015, FCA will look at how it might encourage better disclosure of information to consumers. All the papers may be downloaded via the following link.

Text of this speech, given at an APFA dinner, follows. Topics include: the post-RDR regulatory landscape and FCA’s working relationship with financial advisors.

ECB has today published the text of the above speech, given one day before the ECB takes up its supervisory task under the Single Supervisory Mechanism (SSM) on 4th November. Danièle Nouy talked about the results of the comprehensive assessment (published on 26 October) and the preparatory work on the legal and operational infrastructures of the SSM.

FCA has today published the draft of a speech delivered by Martin Wheatley at Mansion House. The speech focused on discussing how the Financial Conduct Authority has been influenced by the extension of its remit into competition. The speech also announced a consultation on the FCA's approach to a regulatory framework for payment systems later this year.