Financial Conduct Authority (FCA)
Vox Pop: Regulation 20 years on from the FSA coming to power – part one
The Financial Services Authority came into force on 1 December 2001. In this anniversary month, in the first of a two-part vox-pop series, Post asks compliance experts for their thoughts on how seismic a change the launch was and the current scope of…
José Morago named Allianz Personal risk director
Allianz Holdings has appointed José Morago as risk director for Allianz Personal, with immediate effect.
'Challenging' changes ahead under consumer duty
The Financial Conduct Authority’s consumer duty proposals are set to 'change the face' of the consumer financial services market, experts have said.
FCA's consumer duty to cost firms up to £2.4bn
The Financial Conduct Authority has estimated that businesses will face a one-off bill of up to £2.4bn to comply with its proposed consumer duty rules, with ongoing annual direct costs of up to £176m.
Watchdog seeks views on future of financial services compensation
The Financial Conduct Authority is looking for input on a ‘fair and sustainable’ compensation framework.
FCA unveils consumer duty 'to drive a fundamental shift in industry mindset'
The Financial Conduct Authority has opened a consultation on the introduction of a consumer duty highlighting its concerns that financial services do not currently always work well for consumers.
FCA launches consultation on improving AR regime
The Financial Conduct Authority has launched a consultation on improving the appointed representatives regime and tackling harm from this model.
FCA streamlines decision making process to prevent consumer harm
As part of its transformation to become a more innovative and assertive regulator, the Financial Conduct Authority has confirmed more decisions will be taken by its senior managers than by the Regulatory Decisions Committee.
Zurich to make up to £25m voluntary contribution in East West administration
Zurich will pay up to £25m to help policyholders of structural defects specialist East West Insurance Company, the insurer and administrators Ernst & Young have confirmed.
Podcast: What does the regulator’s greater focus on operational resilience mean for surge planning?
Welcome to the second in a two-part podcast series about operational resilience brought to you by Claims Consortium Group and Insurance Post.
Axa retail CEO says pricing review heralds the most ‘endemic’ change in market's recent memory
The Financial Conduct Authority's pricing review will bring the most “endemic” change the insurance market has experienced in a long time and the work that comes with it should not be underestimated, according to Axa Retail CEO Tara Foley.
Briefing: Carrying the can in the AR sector
The debacle which led to the Financial Conduct Authority ordering Munich Re Digital Partners to get John Lewis to pull its ‘Let Life Happen’ home insurance advert has intensified the focus on appointed representatives, a sector not short of regulatory…
FSCS cancels 2021/22 retail pool contribution but forecasts £900m levy for following year
The Financial Services Compensation Scheme has dropped its 2021/22 levy to £717m from a forecast £833m as it cancelled the predicted £116m contribution to the retail pool.
ABI expresses disappointment over government regulatory framework consultation
The government’s second consultation on regulatory framework reform has received a mixed response from trade bodies.
Lockdown customer champion: Johnny Timpson
Johnny Timpson tells Post why the pandemic put the importance of the Access to Insurance mission on steroids and the challenges it faced coming to fruition as the Covid crisis hit.
Biba calls on FCA to cut out 'jargon' amid product governance confusion
The British Insurance Brokers’ Association has called for the Financial Conduct Authority to cut down on the amount of jargon in its rulebook, saying that the terminology used in new product governance rules risks confusing brokers.
FCA warns brokers 'failed to understand' product governance rules impact
Brokers have 'failed to understand the impact' of product governance rules that came into force on 1 October, the Financial Conduct Authority has said.
FCA chair Randell to step down next year
Financial Conduct Authority chair Charles Randell is to step down next spring after four years in the role.
Lloyd’s and London market D&I efforts light on inclusion, says FCA
The Financial Conduct Authority has urged Lloyd’s and London market insurers to do more foster more inclusive working environments in order to better serve customers.
Editor's comment: The ups and downs of 2020
2020 was a year of ups and downs for everyone. The Covid-19 pandemic struck, lockdowns began, and many were separated from loved ones. But kindness prevailed, communities were reunited, people met and talked to their neighbours. Home schooling took its…
Top 100 UK Insurers 2021
Covid-19 had the biggest impact on insurers in 2020. Commercial lines insurers suffered while personal lines insurers broadly benefited according to William Keen-Tomlinson, senior financial analyst in London for AM Best.
Rishi Sunak backs AR reform review in wake of Greensill
Chancellor of the Exchequer Rishi Sunak has backed a review of reforms to the appointed representatives regime in his response to a committee of MPs looking at Greensill Capital’s collapse.
Treasury committee seeks answers from big tech firms on economic crime
Treasury Select Committee chair Mel Stride MP has written to Google, Ebay, Facebook and Amazon with a series of questions relating to their policies and actions to combat economic crime, prevent fraud and protect consumers.
Blog: The villain of the piece - Insurers cannot bear the risk of ESG change alone
Insurers have the opportunity to help drive global change but they cannot do it alone, blogs Kennedys partner Fleur Rochester.