The financial services regulatory family has recently published its Wider Implications Framework annual report for 2022. The group consists of the Financial Ombudsman Service, the Financial Conduct Authority, the Financial Services Compensation Scheme, The Pensions Regulator, and the Money & Pensions Service.
The Wider Implications Framework annual report aims to achieve better outcomes for consumers, firms and the industry as a whole, through building on existing collaborative work. See page 8 of the report for motor finance.
One of the group’s key achievements in 2022 was joint work to ensure that the Financial Ombudsman Service was prepared for the introduction of FCA’s Consumer Duty, including internal training sessions and engagement with external stakeholders to understand their concerns.
See more information on the Wider Implications Framework and download a copy of the report on the Financial Ombudsman Service website.
