PIMFA Weekly News Bulletin - 31 October 2022

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Featured: 'Price and Value' Session at next Consumer Duty Working Group PIMFA Weekly News Bulletin

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PIMFA WEEKLY NEWS BULLETIN 31 OCTOBER 2022 PIMFA Consumer Duty Working Group Our next Consumer Duty working group session will be held on Wednesday 2 November (2:304pm).

This session will be on ‘Price and Value’ and will be led by our associates at DAC Beachcroft.

Please note this is a member only session; working group enquiries should be sent to Alex Roberts.

FCA publishes Consultation Paper on SDR and investment labels On 25 October 2022, the FCA published their long-awaited Consultation Paper (CP22/20) on sustainability disclosure requirements (SDR) and investment labels.

The new proposals intend to help consumers navigate an increasingly complex investment product landscape, protect them from greenwashing, and rebuild trust. They cover sustainable investment labels, consumer-facing disclosures, detailed disclosures targeted at a wider audience, naming and marketing rules, requirements for distributors, and a general ‘anti-greenwashing’ rule.

The deadline for responses to the Consultation Paper is 25 January 2023. The FCA will publish the final rules and guidance in a Policy Statement by the end of the first half of 2023. PIMFA’s Sustainable Finance Working Group will meet to discuss the proposals and provide a response.

If you wish to get involved and join the Working Group, please contact Maja Erceg. A full synopsis of the CP is available here.

Cyber Security Awareness Month It’s nearly the end of Cybersecurity Awareness Month and PIMFA Plus partner Mitigo have one final theme to share with you: software updates.

You might be surprised to learn that the software you use every day is full of holes. These are doors left ajar in the code that criminals can use as entry points into your system. As soon as a developer becomes aware of a missing piece, this is called “Zero-day” as they effectively have zero days to fix it. It’s a race against the clock to create a patch to cover it up, before criminals find it. The patch is then released in a software update.

The developers also reveal the details of what the patch is covering up, which is not only accessible for you to see, but for the criminals too. The criminals rely on you being too busy to update your system so they can use the vulnerability against you before you’ve had chance to patch it up. This is why it’s so important to update your software as soon as you are prompted.

Check all your devices and see if you’ve got an update pending anywhere.

For more helpful cybersecurity advice, follow Mitigo on LinkedIn, or head to their blog.

Partner Event | LGBT Great Are you an LGBT+ parent and looking for advice? Join our in-person event and learn about the experiences and advice of other LGBT+ parents. The event starts at 9:00 (GMT+1) on November 10th. Save your seat today!

Register here.

This is an event partnership with Schroders .

Latest PIMFA Press Releases

PIMFA Press Coverage

PIMFA welcomes Chancellor’s intervention to bring

Citywire New Model Adviser: Exclusive: FCA could lose

stability and confidence back to UK financial markets

immunity from civil damages lawsuits

PIMFA welcomes FCA action to protect prevent harm in

Professional Adviser: PIMFA unveils advice profession

the consumer investment market

diversity and inclusion project

PIMFA celebrates winners of its second Diversity & Inclusion Awards and previews ‘TIDE’ launch

International Adviser: 17 investment firms blocked by FCA due to phoenixing fears

PIMFA delighted to welcome Courtney Havers’ Ray Tuffield to its Board

FT Adviser: FCA to consult on advice regime for stocks and shares Isas

Fiscal Statement reaction from Liz Field, Chief

Financial Planning Today: What’s left from the mini-

Executive of PIMFA: “Inflation remains key problem

budget? More than you think

facing households and the economy.”

Read more press releases here

See more of PIMFA in the press

EVENTS & LEARNING

PIMFA Sustainable Finance Conference

PIMFA LIVE ONLINE TRAINING:

LIVE IN LONDON

ENOUGH?

22 November | 09:00 - 17:30

22 November 2022 | 09:30 - 12:30

MARKET ABUSE ARE YOU DOING

The FCA’s largest fine yet (£12.6 million) handed out to a firm for market abuse failures this summer shows that even major international firms can fall Change is happening. Governments are legislating

foul of market abuse regulation.

for mandatory climate disclosures, new rules and regulations are constantly being announced while

In this 3-hour interactive, online training course

impacts on firms are still being evaluated.

leading consultants Bovill reveal where wealth firms are falling foul of regulatory expectations and

The Conference 2022 aims to provide attendees

what they need to implement effective policies and

with the latest information firms will require to

procedures to control market abuse risks posed by

ensure they are ready for what is coming and the

remote working.

opportunities these changes will create for their For more information and to register, please click

clients and the sector.

here.

For more information and to register, please click here.

PIMFA WEEKLY NEWS BULLETIN | 31 OCTOBER 2022 PRESS RELEASES

ABOUT PIMFA

D&I AWARDS

WEALTHTECH

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