Paul Dyer, former deputy chief risk officer at the FCA, has been appointed to spearhead work on regulatory risk at Huntswood, the regulatory advisory and specialist resourcing firm.

UK financial services firms are underperforming when it comes to complaints handling, despite their growing belief that customers are satisfied with their performance.

Since the 2008 financial crisis, regulators have held many firms to account for failings, but very few individuals. The Senior Managers & Certification Regime (SM&CR) was introduced to address this.

A decision by the FCA to raise the limit on Financial Ombudsman Service compensation claim awards to £350,000 has been branded “shocking” and “counterproductive”.