The FCA have announced that Pricing Transparency in Foreign Exchange will be a key part of their Consumer Duty focus in 2025.
https://www.fca.org.uk/publications/corporate-documents/our-consumer-duty-focus-areas
AFEP members will remember 2019/2020 that we had lengthy discussions with the FCA over this subject and found a sensible solution for firms and consumers. Once Consumer Duty came into force, pricing transparency was a focal point of the FCA, and it’s very telling that Foreign Exchange has been given a specific focus for improvements.
We are meeting in early 2025 and will provide members with an update, but if there are any specific points you think are important for us to take into these discussions, please do get in touch.
This will be one of the most important strategic and commercial issues the industry has faced.