by Palak Bedi | May 12, 2023 | Compliance, Fair value, FCA, Insurers, Multi Occupancy Buildings Insurance, Product Governance
The FCA have published a Consultation Paper (CP23/8 – Multi-occupancy building insurance) detailing their proposed reforms to the multi-occupancy building insurance market. Published on 21st April, the consultation period runs to 9th June and contains a number...
by Kenneth Underhill | Apr 25, 2023 | Consumer Duty, Culture, Environmental Social and Governance, FCA, Financial Crime, Operational Resilience, Product Governance, Senior Managers and Certification Regime, Vulnerable customers
The FCA Business Plan sets the regulatory agenda for regulated insurance firms in the coming 12 months. Released on 5th April 2023, the current plan has a strong focus on the way the FCA uses the Threshold Conditions to instil confidence in consumers. For 2023/4 there...
by Andrew Carrick | Jan 23, 2023 | Consumer Duty, Coronavirus, FCA
The Financial Conduct Authority has published a new consultation paper CP23/1, entitled “Insurance guidance for the support of customers in financial difficulty”. In simple terms, what was a focussed piece of guidance driven by the need to respond to the social issues...
by Claire King | Jan 18, 2023 | Compliance, FCA, Insurers, Operational Resilience, Operations, Prudential Regulation Authority
In the wake of the extensive, and sometimes painful, Operational Resilience projects which have been undertaken by the financial services sector over the last 18 months, comes a sobering reminder of why this regulation is so important. In December 2022, the PRA and...
by Claire King | Jan 10, 2023 | FCA, Prudential Regulation Authority, Senior Managers and Certification Regime, Solvency
The Edinburgh Reforms, launched by the government in December 2022, represent an extensive package of regulatory reforms to the UK Financial Services sector, aimed to support the government’s ambitions for the UK to be the “world’s most innovative and competitive...
by Andrew Carrick | Dec 7, 2022 | Appointed Representatives, FCA, ICSR News
8th of December is the deadline by when the FCA is expecting firms which have Appointed Representatives (ARs) and/or Introducer Appointed Representatives (IARs) to have made provision for the new Supervision rule updates (SUP 12 in the Handbook), as set out in their...