Financial Conduct Authority (FCA)
Bailey planning more moderate FCA approach
Incoming Financial Conduct Authority CEO Andrew Bailey will not take the "shoot first ask questions later" approach of his predecessor Martin Wheatley when he joins the regulator in July.
Director of Content’s Comment: The right man for the FCA job?
The news that then Financial Conduct Authority CEO Martin Wheatley was not to have his contract renewed by Chancellor of the Exchequer George Osborne was followed by plenty of column inches predicting who his successor would be and what it would mean for…
Industry likely to follow suit as Allianz tackles SME underinsurance
Other insurers are expected to follow Allianz’s lead in addressing underinsurance in the SME market, despite the likely adverse impact on trading results.
'Big player' Bailey backed by industry as FCA CEO
The appointment of the Prudential Regulation Authority’s highly regarded CEO Andrew Bailey to the top job at the Financial Conduct Authority has been welcomed by industry leaders who have praised Bailey’s clout and “deep regulatory experience”.
FCA appoints PRA's Bailey as CEO
The Financial Conduct Authority has a new CEO with HM Treasury appointing Prudential Regulation Authority boss Andrew Bailey to the role.
Trade Voice: Fair’s fair
The call to action for #FairnessForAll is not an unattainable ideal.
Allianz to ditch condition of average for underinsured SMEs
Allianz will remove the use of averages for SMEs that are underinsured despite recognising such a move could affect its trading results, the insurer announced among other measures today (25 January).
Biba Manifesto 2016: Biba spotlights regulatory cost as members face new hike in fees
The cost of regulation continues to feature prominently in the British Insurance Brokers’ Association’s manifesto for 2016, alongside emerging areas such as a European referendum, the implications of the Vnuk tractor case and Flood Re exclusions.
FCA head McDermott out of running for top job
The Financial Conduct Authority has confirmed Tracey McDermott had ruled herself out of the top job at the regulator, following comments by Chancellor George Osborne today (7 January).
Broker banned by FCA for failure on client money
Insurance broker Vroni O’Brien has been banned by the Financial Conduct Authority from undertaking any functions of “significant influence” after it was found she transferred money incorrectly between business and client accounts.
Editor's Comment: 2015: A year in review
Christmas is a time for reflection on the past year and to think about what 2016 might bring.
FCA urges further improvements on mobile phone insurance
The Financial Conduct Authority’s follow-up review into mobile phone insurance found while some firms have improved, there were still many who were not providing fair outcomes for customers.
Arc Legal adds claims experts to its offering
Arc Legal will expand its portfolio of products via a distribution partnership with Lorega, announced today (10 December).
Interview: Aviva Commercial Lines: On top of the world
Three of Aviva’s commercial lines management team tell Post their plans for building on a business that is already in good shape.
ABI criticises FCA's late decision on complaints rules timeframes
The Association of British Insurers is disappointed the Financial Conduct Authority's amendment to the implementation date for changes to complaints handling and reporting processes, announced today (4 December), has come too late to avoid insurers…
FCA transparency proposal deemed a 'partial solution'
Industry commentators have challenged the Financial Conduct Authority for putting forward a "partial solution" in its proposal that would require general insurers to publish the prior year's premium on renewal notices, announced today (3 December).
Regulator proposes premium reminders for customers
General insurance providers will have to publish the previous year’s premiums on renewal notices if a proposal by the Financial Conduct Authority goes ahead.
FCA posts alert about unauthorised insurer
The Financial Conduct Authority has issued a warning about an unauthorised insurance company, AJ Cox Insurance.
Regulator to discuss complaints service for SMEs
The Financial Conduct Authority wants feedback on how much protection it offers to SMEs when complaints arise from dealings with financial service providers.
FCA calls for deadline and consumer-awareness campaign on PPI
A firm deadline on payment protection insurance claims and an industry-funded communication campaign have been outlined in the Financial Conduct Authority’s consultation paper, released today (26 November).
FCA launches big data investigation in GI sector
The Financial Conduct Authority has launched a "call for inputs" on the use of big data in the general insurance sector.
Cloud insurance uptake set to increase in light of FCA consultation
A Financial Conduct Authority consultation giving guidance to financial services firms outsourcing to the cloud should result in more insurance industry players using the technology, commentators predict.
Towergate regulatory costs hit £5.4m in Q3 as FCA talks continue
Towergate incurred regulatory costs of £8.8m for the opening nine months of 2015 in relation to the ongoing Financial Conduct Authority investigations.
Mass demands blanket ban on cold calls and texts as CMC review closes
The Motor Accident Solicitors Society has called for an extension of the ban on unsolicited texts and cold calls to both sides of the claimant/defendant divide.