All FCA articles – Page 6
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NewsFCA confirms new rules on oversight of appointed representatives
The imposition of the new requirements highlights a ‘structural weakness in the present regime’, says financial services partner
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NewsProposed Leasehold Reform bill a ‘red flag’ for industry over property insurance commission disclosures
‘Millions of people’ could be insured ‘for a lot less’, says financial compliance firm principal
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NewsFCA publishes final rules for Consumer Duty regulation
The regulator has extended its implementation timeline for its ‘step change’ Consumer Duty principle by three months, but company boards must agree their implementation strategies by October 2022
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NewsReported general insurance conduct rule breaches are ‘on the low side’ – Sicsic Advisory
Many Lloyd’s and London market brokers have failed to return required annual rule breach reports
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NewsCryptocurrency crisis leading to insurance policy wording amendments
Volatility in a market in its infancy is creating calls for regulation, says FCA chief executive
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NewsFCA’s new chair revealed
The new hire will ‘bring much needed pragmatism to the FCA board from his experience of running a major regulator’, says law firm partner
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NewsTwo-day FCA staff strike postponed as further talks get under way
The regulator says it is looking ’forward to an open conversation’ with employees about union representation
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NewsFCA slams JLT Specialty with multimillion pound fine
Insufficient controls by the firm meant that ‘money flowed into the pockets of corrupt officials’, says the regulator’s director
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NewsTravel insurance signposting review delayed by FCA
The regulator said that the impact of the Covid-19 pandemic would ‘undermine’ its ability to draw firm conclusions
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NewsFCA urges insurance intermediaries to address ‘significant risks of potential harm’
The regulator said it has continued to observe ’ineffective governance and control arrangements’ from insurance intermediaries
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NewsLMG identifies six metrics designed to secure London market’s global competitiveness
The trade body outlines ‘six priority initiatives’ through which the insurance industry’s ‘competitiveness agenda can start to be established and measured’
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NewsGove welcomes FCA findings on buildings insurance market
The secretary of state is also ‘keen to review’ the insurance industry’s role in contributing to ‘high premiums’ for leaseholders
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NewsFCA confirms significant delays in M&A process
Firms looking to complete acquisitions could face waits of over two months for regulator approval
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NewsBrokers’ commission must be ‘reflective of the value’ provided to customers, says FCA
The regulator’s executive director of consumers and competition emphasised that brokers must not recommend a product based on their own remuneration, although ‘high prices may sometimes be appropriate’
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AnalysisBriefing: FCA backs Biba on FSCS levy reductions, but admits change ‘will take some time’
Despite some alignment in thinking, Biba’s chair still believes the regulator needs to take ‘a long, hard look at its own responsibilities and approach to our low risk sector’
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NewsSheldon Mills: FCA does not have ‘one-size-fits-all approach to regulation’
Achieving balance between the regulator’s 4,500 staff and the 55,000 firms its regulates is a challenge, notes the executive director
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NewsFCA considering ‘rules to limit commission’ for multioccupancy buildings insurance
The regulator is collecting data from the insurance industry to help inform ‘potential interventions’, says executive director for consumers and competition
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AnalysisHouse of Lords advocates more proportional regulation for London market
Inquiry calls for ‘broader reassessment of regulatory culture’ as current London market oversight is described as ‘inflexible’ and ‘unnecessarily complex’ by committee chair
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NewsFCA boosts hiring spree with three new appointments
Two appointees have been promoted internally, with the other joining from Goldman Sachs
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NewsFCA collecting data on fair value for leaseholders
Leaseholders have warned that a ‘major financial scandal’ is developing over hidden commission fees
