In this episode, we unpack the FCA’s latest reflections on year two Consumer Duty Board Reports and what boards should be focusing on as the third reporting cycle approaches. We discuss where firms are making progress, common weaknesses still being flagged by the regulator, and what good, outcome‑focused reporting really looks like in practice. We also touch on the ongoing scrutiny around financial promotions, recent updates on risk warnings, and other regulatory developments firms should have on their radar as they plan ahead for the year.

Vicky Pearce and Rachel MacRae unpack the FCA’s latest operational resilience observations, from mapping and testing to embedding resilience into wider risk frameworks and board decision-making. They also look at what recent cloud outages, cyber incidents and third-party risks mean for firms now, plus a quick update on the FSCS MELL for 2026-27.

This week on Beyond the Buzz, Vicky and Rachel break down two major FCA consultations shaping the future of advice. From a more proportionate approach to suitability and flexible ongoing reviews, to proposed fee changes and new operational guidance, they explore what these updates mean in practice. Plus, a look at targeted support and the latest scrutiny around the British Steel Pension Scheme .