General
Financial Services Duty of Care Bill 2019-20 reintroduced to
Parliament
The Financial Services Duty of Care Bill 2019-20
has been reintroduced to the House of Lords. The Bill requires the
Financial Conduct Authority (FCA) to make rules for authorised
persons to owe a duty of care to consumers in their regulated
activities.
The Bill was originally introduced in the 2017-19 parliamentary
session as a private members' bill and so had to be
reintroduced for the 2019-20 session. The Bill received its first reading in the House of Lords on 9
January 2020. A date for the second reading of the Bill is yet to
be scheduled.
LIBOR transition: BoE, FCA and RFRWG next steps
The Bank of England (BoE), the FCA and the Working Group on
Sterling Risk-Free Reference Rates (RFRWG) have published the
following documents, outlining priorities and milestones for 2020
on LIBOR transition:
