PRA Insurance Supervision Priorities 2022
On 12th January, the PRA wrote to all life and general insurance CEOs, setting out their supervisory priorities for 2022. Kenneth Underhill looks at the key areas of focus highlighted by the PRA for 2022.
A New Consumer Duty – Raising the Bar In The Best Interests Of Customer Outcomes
The new Consumer Duty is raising the bar when it comes to delivering positive outcomes for customers and senior managers should take note. The FCA has entered the second phase of its consultation. Kenneth Underhill looks at the new rules.
Financial Crime Risk Assessment – A Continuous Cycle Of Improvement
The prevention of financial crime remains a key area of focus for the FCA. The risk of the insurance sector being used to facilitate financial crime continues to evolve. Nicky Hasler reminds firms of the need for a financial crime risk assessment that is regularly updated.
Appointed Representatives – A Root And Branch Review
The FCA and HM Treasury have issued co-ordinated papers on the Appointed Representatives (AR) regime. It amounts to a root and branch review of the business model and how it is overseen from a legislative and regulatory perspective. Craig Umbleja looks at the proposals and explains why firms need to take note now.
Webinar: Appointed Representatives – Managing the Regulatory Risks
On 15th November, in conjunction with the MGAA, Kenneth Underhill will be hosting a webinar looking at the current regulatory regime for Appointed Representatives as provided under the FSMA 2000, Register now.
Temporary Permission Regime: Landing Slots Have Arrived
The FCA and PRA have started to provide firms who are in the Temporary Permission Regime (TPR) with “landing slots”. Craig Umbleja explains what firms in the TPR must do and how ICSR can help.
FCA issues guidelines and expectations on remote or hybrid working for regulated firms
The FCA have issued guidance for firms which have adopted remote or “hybrid” working arrangements in consequence of the global pandemic. David Porter looks at the guidance.
ICSR Takes New Office In Lloyd’s Building
ICSR has taken new office space in the Lloyd’s Building. With effect from 1st October 2021, our team will be based in Room 733 in the Lloyd’s Building.
ICSR Named MGAA Service Provider of the Year
At its annual exhibition and awards ceremony, the Managing General Agents Association has named ICSR its Service Provider of the Year.
The ICSR Team Are Taking On The London Legal Support Trust 10k Walk
On 18th October, a team from ICSR will be taking on the London Legal Support Trust 10k London Legal Walk. Find out how you can sponsor us.
The Evolving Regulatory Environment And The FCA Business Plan 2021/22
Next week, in conjunction with the Managing General Agents Association, Kenneth Underhill will be hosting a webinar looking at the evolving regulatory environment and the FCA Business Plan 2021/22. Register now.
The Risk of Facilitating Tax Evasion for the Insurance Sector
The Insurance sector may be forgiven for not considering itself a direct target for individuals or entities looking to evade their tax responsibilities. Nicky Hasler looks at the legal and regulatory framework for Insurance firms and explains the HMRC guidance.
