The Fairer Finance podcast
A topical show looking at news, policy and regulatory developments in the UK financial services industry. Hosted by Eve McGrady, alongside Fairer Finance's Managing Director James Daley and Director Tim Hogg.
Episodes
The Fairer Finance interview: Sheldon Mills talks about his AI report and his legacy at the FCA
in this special edition of the Fairer Finance podcast, we welcome FCA executive director Sheldon Mills to the show.We recorded the show on 9 July 2026 - Sheldon's last day at the FCA after 8 years.In a wide ranging interview, we talk in detail about his recent AI report recommendations and about his proudest moments as a financial regulator. Email us your questions and suggested topics for d
Guest host Charles Randell joins us to discuss the FCA's basic bank account review and the consumer investment disclosure consultation
In this week's episode, former FCA chair Charles Randell joins us as guest host. In the first half of the show, we discuss the FCA's recent consultation into consumer investment disclosures.While in the second half, we move onto discuss the FCA's recent inquiry into the basic bank account sector.We wrap up with a quick update on the motor finance redress scheme. Email us your questi
Guest host Mick McAteer joins us to talk about Isa reforms and Financial Ombudsman Service changes
In this week's episode, consumer advocacy legend Mick McAteer stands in for Tim Hogg. We start with a discussion about changes to the Isa rules - including the new 22% tax charge on cash holdings in stocks and shares Isas.In the second half of the show, we move back to talk about the Financial Ombudsman Service reforms - raising fresh concerns about the proposed changes to the fair and reason
FCA mortgage market review/The launch of the Fairer Finance Retirement Compass
In this week's episode, we discuss the FCA's latest mortgage market consultation, which looks to relax the rules around interest-only mortgages, and open the door for more people to be able to borrow in retirement.In the second half of today's show, we discuss the findings from Fairer Finance's new research - The Retirement Compass - which looks to understand which groups of pe
Financial Services & Markets Bill/Pensions Commission Interim Report
In this week's episode we discuss the new Financial Services & Markets Bill which was recently laid in Parliament. It's a mish mash of different things - most of which have been well trailed. But there's a few last minute tweaks and additions - including an unexpected but welcome acceleration of the Consumer Credit Act reforms. In the second half of this week's show, we dis
The UK's lack of pension provision/Claims Management Company market review/Motor finance (again)
In this week's episode, we start by looking at three new reports into the pensions market - which focus on the lack of savings for many of those in mid life as well as the growing affordability problem with the UK state pension. One of the reports - from the Tony Blair Institute - includes the controversial recommendation that state pension ages should be personalised and linked to your healt
Prediction markets/FCA consumer credit consultation/Motor finance update
In this week's episode, we look at the fast growing world of prediction markets - which have caught fire in the US over the past two years. While neither of the two big US players have launched in the UK yet - there are already plenty of UK markets to bet on, with UK investors getting access to the platforms using VPNs. The FCA included the market on its lists of perimeter risks earlier this
FCA motor finance redress scheme/Open Finance/Investment risk warnings
In this week's episode, we take a look at the detail behind the FCA's motor finance redress scheme. With up to £7.5bn of compensation due to be paid out to customers, it's the biggest mass redress scheme since PPI. We discuss some of the complex decisions the regulator had to make in deciding how much customers were owed - as well as what the scheme tells us about the FCA's cur
Financial Ombudsman Service reforms/Simplified financial advice
In this week's episode, we take a look at the latest detail from the Treasury and FCA around the reform of the Financial Ombudsman Service. The Treasury has confirmed it plans to impose a 10-year time bar on complaints, as well as give itself new powers to hire and fire the chair and chief Ombudsman of the FOS. It is also considering whether to exclude the Consumer Duty and other principles f
FCA regulatory priority reports - insurance, consumer investments & pensions/Government financial inclusion strategy update
In this week's episode, we take a look at the first of the FCA's new regulatory priority updates - which it plans to publish in each sector once a year. The first three to go live are insurance, consumer investments and pensions. We discuss what's in the documents - and whether these new publications will materially reduce the burden for industry compliance teams.In the second half
FCA credit information market reforms/Buy Now Pay Later rules unveiled
In this week's episode, we start with a discussion about the FCA's latest proposals for the Credit Information market. These are the final stages of a market review that began almost seven years ago. We dive into the detail.In the second half of the show, we take a look at the draft Buy Now Pay Later rules which are due to come into force in July. With Consumer Credit Act reform continui
The Fairer Finance Interview: Nikhil Rathi, CEO of the Financial Conduct Authority
In this special edition of the Fairer Finance podcast, we're delighted to be joined by chief executive of the Financial Conduct Authority, Nikhil Rathi.We have a wide ranging conversation with Nikhil, covering everything from the FCA's changing approach to rule-making and enforcement, through to its relationship with Treasury and the forthcoming motor finance redress scheme.Email us your
FCA premium finance market study/Apple Pay in the Competition Appeal Tribunal
In this week's episode, we talk about the conclusions of the FCA's recent premium finance market study. Unusually, the final report recommends no market changes and side-steps some of the major problems in the market. In the second half of the show, we discuss a new case against Apple which was recently filed in the Competition Appeal Tribunal. The case is being brought by none other tha
FCA protection market study/Mills' AI report/CMA regulation bonfire
In our latest episode, we start with a look at the interim report of the FCA's protection market study.Later in the show, we discuss Sheldon Mill's review into the impact of AI in financial services.And we wrap up with a look at the CMA's latest commitment to review and potentially scrap 60% of regulatory decisions. Email us your questions and suggested topics for discussion to fair
Pensions value for money/Predictions for 2026
In this week's episode, we start with a look at the latest pensions value for money proposals released by the FCA - which include a new RAG rating with two different shades of green.In the second half of the show, we look ahead to what is coming up across the rest of 2026, including making some predictions. We also look back at how James got on with his 2025 predictions (spoiler alert - not g
FCA responds to the Which? insurance super-complaint/FCA mortgage reforms/Cryptocurrency regulation
In our last episode of 2025, we take a look at the FCA's response to the Which? super-complaint about home and travel insurance. While there's no market study, the FCA has committed to follow up with more work looking at the link between sales journeys and claims outcomes. We discuss the response in detail and what it means for the industry.In the second half of the show, we discuss the
Targeted support and FCA consumer investment drive/Motor insurance taskforce
In this week's episode, we start by unpacking a number of new FCA papers designed to get more people investing. As well as simplifications to the disclosure rules, the FCA published a new discussion paper looking at how to change consumer attitudes towards investing. We also discuss the near final Targeted Support rules, published on the 11 December.In the second half of the show, we discuss
Budget 2025 Special
In this special Budget edition of the podcast, we take a look at the headlines and relevant news for the financial services sector in this week's Budget. After months of speculation about major changes to the Isa and pensions system - what changes were actually announced?As ever, Eve, James and Tim catch you up with their analysis. Email us your questions and suggested topics for discussion t
FCA focus on contracts for difference/Hollowing out in the general insurance market
In this week's episode, we take a look at the FCA's recent activity in the Contracts for Difference market. The regulator's review of the sector unveils some poor practice and sends a warning shot to the market.In the second half of the show, we take a look at new research from Fairer Finance focusing on hollowing out in the general insurance market. A number of pet insurers now hav
Government financial inclusion strategy/Consolidation in the financial advice sector
In this week's episode, we take a look at the Government's new financial inclusion strategy. With recommendations to improve access to banking, credit and insurance - there are some initiatives to be welcomed, but the recommendations are fairly meek.In the second half of the show, we look at the FCA's recent multi-firm review focusing on consolidation in the financial advice sector.
How is AI changing financial services/House of Lords Regulation Committee/FCA Value measures data
In this week's episode, we look at how AI is being used in financial services and how it might involve in future. We follow the recent discussion between MPs and financial regulators on the topic in the House of Commons and talk about some of the risks as well as the opportunities. Staying in Westminster, we take a brief look at the House of Lords Financial Regulation Committee - and its rece
FCA consumer duty update/Motor finance compensation scheme
In this week's episode, we discuss the detail behind the FCA's proposed motor finance redress scheme. While millions of consumers could be in line for compensation, some consumers are unhappy with the design of the scheme.In the second half of the show, we look at the FCA's latest consumer duty updates, and it's work plan for the year ahead. With Buy Now Pay Later being brought
Which? insurance super-complaint/FCA consultation on crypto-currency
In this week's episode, we start with a look at Which?'s super-complaint into the home and travel insurance markets. Fairer Finance supported Which? with its analysis, and shares its concerns. But it's likely to have gone down like a lead balloon at the FCA, where resources are stretched and management are being told to focus on the Treasury's pro-growth, deregulation agenda.In
Trailer: The Fairer Finance Podcast
What's the Fairer Finance podcast about and who is it for? Email us your questions and suggested topics for discussion to fairerfinance@fairerfinance.com
Supreme Court car finance ruling/New Economic Secretary/Look forward to Autumn 2025
We're back from a summer break - starting season 2 with a look at the Supreme Court car finance ruling. We explore what it means for the industry and for consumers.In the second half of the show, we look back at the news stories from the past few weeks - including what the new Economic Secretary might mean for Government financial services policy. We also take a look forward to what's co
FCA insurance market reviews/Fairer Finance insurance pricing report
This week, we are dedicating the whole episode to insurance. Last week, the FCA published a raft of papers around the general insurance market - from the premium finance market study interim report through to its review of the general insurance pricing practices remedies.We unpack what was in the FCA papers and what these might mean for industry and consumers.In the first half of the show, we disc
The Leeds Reforms/FOS changes/SMCR
In this week's episode we discuss the Leeds reforms announced by the Chancellor on 15 July. These included more detail about reforms to the Financial Ombudsman Service as well as significant changes to the Senior Managers & Certification Regime.There was also a hint of changes to the retail banking ringfence. We discuss what all this means for businesses and consumers.Email us your questi
FCA mortgage market review/Targeted support and advice-guidance boundary review
In this week's episode, we start with a look at the FCA's recent discussion paper on the future of the mortgage market, as well as Nikhil Rathi's recent call to scrap the government mortgage charter. In the second half of the show, we discuss the new FCA consultation paper on targeted support, and talk about the benefits and potential pitfalls of this new light touch advice regimes.
Pensions reform/Fund management assessments of value
In our latest episode, we look at the recent run of government activity in the pensions market - from the Mansion House Accord to the new Pension Schemes Bill. We unpack the detail of these changes and discuss what they might mean for the market - and pension savers more broadly.We also take a look at the FCA's latest plans to water down fund manager assessment of value reports. We talk about
Do online will writers need regulating?/Access to cash/FOS compensation changes
In this week's episode, we kick off with a look at the online wills market - discussing Fairer Finance's new ratings in the sector and considering whether better regulation of the sector is needed.In the second half of the show, we move onto discuss Access to Cash. With bank branches continuing to close and cash usage continuing to fall, are we edging towards extinction for bank notes an
The role of housing wealth in funding retirement/FCA & Treasury news round up: mortgage and insurance rule reform plus latest consumer credit act update
In this week's episode, we delve into the detail of Fairer Finance's new research report looking at how more people can use their housing wealth to fund retirement.With many more people likely to reach later life without adequate pension savings, our research suggests that as many as 51% of people may need to use housing wealth to maintain their standard of living by 2040. We dive into t
FCA turns the spotlight on currency providers/Latest results of the Fairer Finance Trust in Insurance & Trust in Banking indices
In this week's episode, we begin with a look at the FCA's latest consumer duty deep dive - which targets the currency sector. The cost of sending money overseas online is often difficult for consumers to understand - and the FCA highlights examples of good and bad practice in the sector.In the second half of the episode, we discuss the results of the latest Fairer Finance Trust in Insura
The FCA's vulnerable consumers review/Regulation of Buy Now Pay Later and review of consumer credit regulation
In this week's episode, we discuss the FCA's recent review of its vulnerable customer guidance. How have firms been meeting the challenge of identifying and supporting vulnerable customers? And what did the FCA's review of bank's power of attorney and bereavement processes uncover?In the second half of the show, we look at the forthcoming regulation of the Buy Now Pay Later Sec
What do the CMA's new powers mean for financial services?/How can firms help consumers navigate volatile stock markets?
In the latest episode of the Fairer Finance podcast, we start with a look at the CMA’s new consumer protection powers to tackle aggressive and misleading sales tactics. We'll discuss what this new regime might mean for firms already subject to the FCA’s Consumer Duty. Do the CMA’s new powers change anything?In the second half of the show, as stock markets are volatile, we also ask how firms c
What is the focus of the FCA's new 5 year strategy?/The launch of the FCA's protection market study
In the latest episode of the Fairer Finance podcast, we start with a look at the FCA's new five year strategy - as well as a dive into its latest plans to strip back the rulebook. The strategy talks about rebalancing risk - but how much risk will be socially and politically acceptable for consumers?In its latest consumer duty paper, the FCA talks about a number of new ideas - from scrapping s
What will the FCA's mortgage reforms mean for consumers and the economy?/FCA under fire over funeral plans
In this week's episode, we start by taking a look at the FCA's recent announcements around the mortgage market. In the next few weeks, the regulator has said it will launch a call for evidence to hear whether its current stress test affordability rules are too strict - and will consider whether it's time to allow borrowers to borrow more. The FCA has also announced a consultation in
Can Isa reforms get more consumers investing?/The growth of essentials policies in the general insurance market
Rumours are abound that the government is considering cutting the cash Isa allowance to get more people investing. But will it work? And why don't more people invest in stocks and shares in the UK?In the second half of the show, we look at the growth of essentials policies in the general insurance market. Since the FCA banned insurers from charging existing customers more than new ones, the i
What's going on at the Financial Ombudsman Service?/ The future of the UK banking sector
In this episode, we take a look at what's been going on at the Financial Ombudsman Service - with both the CEO and Chair announcing their departure within a few days of each other. The recent FOS/FCA call for input into the UK consumer redress system has also just closed. What changes might we expect to see?In the second half of the episode, we take a look at the recent corporate activity in
Growth vs consumer protection: will the Government's pro-growth agenda lead to the deregulation of financial services?
Government ministers have been talking in stereo about regulation standing in the way of growth - and have ordered regulators to explain how they can behind the pro-growth agenda.Over the last few weeks, Consumer Duty board champions have been scrapped, the chair of the Competition Commission has been fired and the FCA has begun talking about watering down mortgage affordability rules. So what is
What can we expect from the FCA and Treasury in 2025?
In this episode, we're taking a look at what lies in store for the financial services sector in 2025. With a busy roster of Government activity and FCA market studies - who will be the winners and losers?We also take a look back at James' 2024 predictions to see if he got any of them right. If you'd like to suggest topics for future shows, or send in your questions, please send us a
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