SimplyBiz launches regulatory updates tool

SimplyBiz has launched a new online tool, ‘Horizon Scanner’, designed to keep its member firms up to date with the regulatory activities happening in 2023 and beyond which may affect advisers and their businesses.

The Scanner, which sits within the SimplyBiz site, will be updated as policy, consultations, or feedback is released by the regulator. The live links within the Scanner take users to documentation or more detailed guidance elsewhere within the site.

Paul Bruns, compliance director at SimplyBiz, commented: “Whilst Consumer Duty has been very much the star of the show for the past twelve months, and will require significant attention through 2023 and beyond, there are still some other significant regulatory initiatives coming down the line, waiting for their time in the spotlight.

“We’re expecting some key Consultation Papers this year, including those on FSCS reform and the Review of the Capital Adequacy Requirements. In the second half of the year, we will see the publication of the FCA report on its Retirement Income Review, along with the end of the transitional rules applying to the AR Regime. When added to the Consumer Duty, there’s an awful lot of compliance considerations for advisers this year.

“However, as always, SimplyBiz will be on hand to support our members, and we hope the Horizon Scanner will help with awareness and show that we are perfectly placed to deliver peace of mind for advisers, as part of our range of to the very best regulatory and technical support available.”