FCA: Notice of Undertaking: Mercedes-Benz Financial Services (UK) Limited
FCA has published an undertaking under the Consumer Rights Act 2015 from Mercedes-Benz Financial Services (UK) Limited on a potentially unclear excess mileage term in some of the firm’s consumer vehicle hire purchase agreements. The firm has voluntarily agreed to refund consumers affected by the unclear term since 1 January 2014, agreed that new contracts entered into from 31 December 2024 will contain an excess mileage term which will more clearly explain how the excess mileage charge will be calculated, and agreed not to rely on the term in any of its existing contracts with consumers, assuring FCA that where the contract has been voluntarily terminated early it has not relied on the term since January 2022.
Last updated · 13 Mar 2026
Regulatory News - Financial Services & Regulation
See allHoL Financial Services Regulation Committee: Regulation of the consumer insurance market
The Committee has launched an inquiry into the regulation of the consumer insurance market, including the regulation of insurance distribution and insurance claims handling, as well as the enforcement of these regulations and the resolution of disputes between insurance firms and consumers. Responses to its call for evidence are required by 26 June 2026.
TSC: Motor insurance compensation scheme
TSC has written to Nikhil Rathi setting out a number of questions with regard to consequences of the legal challenges, administrative issues, the conduct of market participants, and FCA’s powers. TSC has requested a response by 4 June 2026.
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PRA: PS13/26: Insurance third-country branches – policy implementation and other updates
Further to CP20/25, FCA has now published feedback and final policy, including amended rules, supervisory statements and statements of policy, as well as details of changes to the draft policy.
FCA: Financing climate solutions – exploring findings from the transition finance pilot
FCA’s findings suggest many climate solutions still face a gap between technical readiness and becoming commercially investable, and that, although there is strong investor interest and capital available, it does not always match the risk profile, scale or time horizon of climate opportunities.
FCA: CP26/16: Registration of authorised fund assets
In this CP, FCA is proposing rule changes that would, amongst other matters: have the effect of allowing depositaries of authorised AIFs managed by AFMs that are also defined as AIFMs to delegate some of their safekeeping functions in respect of some private markets asset types to certain third parties; allow depositaries to delegate the relevant safekeeping function for “non-custodial” private market asset types to the AFM’s affiliates clarify elements of the authorised fund registration function requirements and clarify how the CASS 6 custody rules apply to depositaries of all authorised funds and unauthorised AIFs. Responses are required by 9 July 2026.
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