Financial Conduct Authority (FCA)
Editor's comment: What a difference a year makes
2014 is coming to a close and so much has happened but will insurers be sad to see it go? It was the year that started with Winter floods estimated to have generated a total bill of £500m and saw Labour Party Leader Ed Miliband demand insurers settle…
Review of the Year: Broking
Post’s annual review of the broking market gathered thoughts from Ten, Brokability, Yutree, UIB and Arthur J Gallagher to reflect on 2014 and predict what 2015 will bring in terms of regulation and consolidation
Interview: Peter Staddon: Ringing in the changes
Having completed his first 12 months leading the Managing General Agents’ Association, Peter Staddon tells Post about his future ambitions for the trade body
FCA reputation diminished after damning Davis report
The Financial Conduct Authority has been left "diminished" by a damning report into its handling of publicity around a life insurance thematic review, according to certain market observers.
Trade Voice: Bringing forward policy issuance
In no other area of business would a deal worth potentially hundreds of millions of pounds be entered into without a written contract.
FCA tightens complaint handling procedures
Financial services firms will no longer be able to use premium rate telephone numbers for customers as part of a series of proposals from the Financial Conduct Authority on changes to the rules on complaint handling and post-sale telephone calls.
FCA turns focus to competition in GAP market
The Financial Conduct Authority is proposing changes to promote competition in the £160m guaranteed asset protection insurance market.
MPs plotting to summon outgoing FCA execs
Two departing executives from the Financial Conduct Authority are set to be summoned to appear in front of the Treasury Select Committee over the mis-handling of changes to life insurance regulation.
Regulated firms to pay for £3.8m FCA report
The cost of the investigation into the Financial Conduct Authority's handling of publicity around a proposed life insurance thematic review is to be borne by the firms it regulates.
FCA apologises after life insurance probe
The Financial Conduct Authority has formally apologised following the publication of a damning investigation into its handling of a proposed thematic review into life insurance.
FCA reportedly axing bonuses over insurance scandal
The Financial Conduct Authority is set to cancel bonuses for several of its senior executives following leaks over an investigation into the insurance sector, according to the Financial Times.
Airmic calls for one-day policy issuance to become industry norm
Airmic has called on, insurers, brokers and risk managers to work together to start the renewal process earlier and change market practice, in a bid to achieve day-one policy issuance.
FCA's Adamson exits regulator amid structural overhaul
Financial Conduct Authority supervision director Clive Adamson is to leave the regulator as part of wider structural changes within the organisation.
FCA blocks Cardiff broker
The Financial Conduct Authority has cancelled permissions for a Cardiff-based insurance broker over concerns around filing of returns.
Dual pricing looks certain to come under FCA spotlight warns ABI chairman
Evans equates practice to bank teaser rates currently being scrutinised by FCA
Editor's comment: The regulation pantomime
As we head into the pantomime season, it seems the insurance market’s Sleeping Beauty has awoken – and she means business.
African reinsurer One Re gets UK regulatory approval
One Re, a reinsurer focusing solely on business from Africa, has received approval by the Prudential Regulation Authority and the Financial Conduct Authority.
Housing associations: Providing a helping hand
With less than 40% of social housing tenants taking out home contents insurance, what can the insurance industry do to help those with low incomes protect their belongings?
Flexible commissions look set for FCA scrutiny over conflicts of interest
Compliance specialists say regulator is ‘incredibly interested’ in the practice
FCA and financial firms agree to join forces on complaints handling
The Financial Conduct Authority has agreed with financial firms to make improvements to the way complaints are handled in the sector.
Financial crime risk management no longer 'tick box' exercise says EY
Small commercial brokers face an uphill struggle to ensure they are meeting the the Financial Conduct Authority's expectations on financial crime risk management, according to EY.
FCA slams SME commercial brokers for narrow bribery risk control
The Financial Conduct Authority has accused small commercial insurance intermediaries of failing to manage bribery and corruption risk effectively.
CPP seeks capital injection as it restructures balance sheet
Credit Card insurer CPP has received interest from investors to inject £9m of new equity into the business as it looks to restructure its balance sheet after paying out £1.3bn compensation to customers who were mis-sold insurance.
Creditors of liquidated broker EPLS owed more than £500,000
Blocked London insurance broker EPLS Risk Solutions is in more than £500,000 of debt to creditors, according to its liquidators.