Change log – BIBA Manifesto

Date	Section	Progress update
30.Jul.2025	3.1 Regulation of commercial and bespoke business	A new definition has been proposed: ‘contracts of commercial or other risks’
30.Jul.2025	3.2 Review of FCA requirements following the introduction of the Consumer Duty	The FCA's five-year strategy, published in March, demonstrates the regulator’s commitment to further developing its outcomes-based approach, with a focus on reviewing and streamlining the handbook.
30.Jul.2025	3.3 Data collection and regulatory returns	BIBA gathered intelligence from members on challenges faced with the existing regulatory reporting regime. The information was collated and submitted to the FCA, which included a request for them to deliver 11 key points. We are pleased that five of these points have been or are being addressed,
30.Jul.2025	3.4 Authorisations	BIBA gathered intelligence from members on challenges faced with the existing authorisation regime. The information was collated and submitted to the FCA, which included seven key recommendations for consideration. The regulator responded with feedback and set out the improvements they have been making.

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