by Kenneth Underhill | Feb 21, 2024 | Compliance, Consumer Duty, FCA, ICSR News
ICSR has launched a new ‘Talking Heads’ podcast series, featuring interviews with members of the team, complementing our ongoing series of webinars which remain available as recordings on our YouTube channel. Episode 1 of our new podcast features Compliance...
by Kenneth Underhill | Feb 13, 2024 | Compliance, Fair value, FCA
The Current State of Play Last week the FCA announced that GAP insurers had agreed to withdraw their product on the grounds of lack of Fair Value. Those that have agreed amount to 80% of the GAP market and the other 20% have agreed to no new distribution. For those...
by Niki Underwood | Oct 17, 2023 | Compliance, Consumer Duty, Culture, FCA, HR, Prudential Regulation Authority, Risk, Senior Managers and Certification Regime
In September the PRA and FCA released co-ordinated Consultation Papers on Diversity & Inclusivity in the Financial Services sector, building on the previous Discussion Paper from July 2021. Progress has been slow, albeit the issue is one that continues to receive...
by Kenneth Underhill | Sep 26, 2023 | Consumer Duty, Fair value, FCA
There was yet another warning shot fired by the FCA with the release of the latest general insurance value measures data on 20th September. The warning covered both a failure to comply with the rules around offering Fair Value as required by PROD 4 and a failure to...
by Natalie Dick | Jul 14, 2023 | Brokers, Compliance, FCA, Insurers
The FCA issued its finalised guidance on supporting customers in financial difficulty in early July and in line with the guidance being given back in January, when the work began, the rules take effect 31st July – a date that is not co-incidental given many of the new...
by Natalie Dick | Jul 11, 2023 | Compliance, Consumer Duty, FCA, Insurers
With less than one month to go for the Consumer Duty Implementation, the financial service industry has been working hard to progress and implement frameworks to demonstrate compliance with the new requirements. Many firms have been well engaged and are either...