“In the UK, according to SJP’s head of economic research Hetal Mehta, inflation remained a key focal point, with its persistent presence underscoring the challenges faced in managing the cost-of-living crisis.
“As such, significant policy shifts unfolded, spearheaded in the UK by the post-Brexit Edinburgh Reforms, a set of 30 policies aimed at creating an open, technologically advanced, and sustainable financial services industry.”
Loydon said there was also the implementation of the new consumer duty regulations.
Loydon added: “In a landscape characterised by market volatility, fluctuating inflation, unpredictable interest rates, and the cost-of-living crisis, the existing gaps in financial education and the need for financial advice has been magnified.”
She said one of the effects of the consumer duty regime’s implementation has been to reinforce the industry's commitment to prioritising clients' needs and fair value, while once again shining a spotlight on the urgent need for enhanced financial literacy.
Loydon also said last year will be remembered for the emergence of ESG regulations, notably with the introduction of the sustainable disclosure regulations (SDR) by the FCA.
“This framework sets the foundation for transparent labelling and disclosure within the investment industry, ushering in a new era of investment strategies aligned with sustainability, as well as broader societal goals.”
sonia.rach@ft.com
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