With effect from 1 April 2013 the FSA has morphed into two new organisations:
- Financial Conduct Authority – the regulator for the insurance industry, and
- Prudential Regulation Authority – the regulator for the financial industry and now part of the Bank of England.
Law firms need to ensure their documentation has been updated (Client care letters and Terms of Business / Office Manuals and Policies and also their Demands and Needs Statements. References to Financial Services Authority (FSA) are to be updated to Financial Conduct Authority (FCA).
Contact Legal Eye if you require assistance with these updates.