The FCA is planning to update its guidance, introduced during the Covid-19 pandemic, to provide more support to insurance customers facing financial difficulty.

The FCA has told Professional Indemnity insurers that they must support its British Steel Pension Scheme (BSPS) redress scheme and avoid “unreasonable barriers” to compensation.

The FCA has warned firms that offer Buy Now Pay Later (BNPL) loans that they must comply with the financial promotions rules, even if the agreements are unregulated.

The Financial Conduct Authority is taking steps to intervene in the cost of living crisis after finding 30 consumer credit firms failing in some areas.