FCA acts to help customers get better rates for cash savings
Regulatory Updates | 09/01/20
The Financial Conduct Authority (FCA) is proposing to reform the easy access cash savings market. Under new rules all firms will have to set a single easy access rate (SEAR) across all easy access accounts. Firms will have flexibility to offer multiple introductory rates for up to 12 months, then they will need to choose one SEAR for their easy access cash savings accounts, and one for their easy access cash savings ISAs.
