Financial Conduct Authority (FCA)
Ethics: Entering the moral maze
The insurance industry has a poor public perception, many believing that firms put short-term profit above long-term customer satisfaction.
Law firm unsurprised by FSA Cole depature
Pinsent Masons is "not surprised" by Financial Services Authority boss Margaret Cole's departure because Martin Wheatley was appointed to chief executive of consumer protection and markets authority last year.
FSA boss Margaret Cole quits
Financial Services Authority managing director and board member Margaret Cole will leave the organisation later this year after seven years to seek "a fresh challenge".
FSA's 'twin peaks' transition model welcomed, but further clarity sought
The Financial Services Authority's decision to create a 'twin peaks' operating model to mirror the upcoming regulator has been hailed as a "chance to get it right for the future".
FCA and PRA collaboration is the key, says Adams
Prudential Regulation Authority boss Julian Adams has pledged the organisation will collaborate with the Financial Conduct Authority to ensure the bodies do not duplicate work.
Merged trade bodies to fight for
A campaign to secure a more cost-effective regulatory environment for thousands of brokers will form the basis of the “historic” merger between the British Insurance Brokers’ Association and the Institute of Insurance Brokers.
Lord Turner calls for greater FCA powers
Financial Services Authority chairman Lord Turner yesterday urged politicians to give the Financial Conduct Authority the powers to prevent the customer from being “ripped off”.
FSA did not seek compensation powers
The Financial Services Authority has insisted fears it was seeking draconian power to force brokers to pay unreasonable amounts of compensation are unfounded.
Straw to meet broker groups to discuss referral fees issue
Brokerbility has secured a meeting with Labour MP for Blackburn Jack Straw, pictured, next month in a bid to give him an industry perspective on referral fees.
BIS 2011: EU economy could go into meltdown, warns former Bank of England boss
The former deputy governor of the Bank of England Sir John Gieve has forecasted the European economy will either slowly limp along to recovery and see unemployment rise or go into complete meltdown.
Industry associations back Government regulation reform
Insurance and broker associations have welcomed the Government’s proposed regulatory reforms in their consultation responses. However, they have also expressed concern its plans could be too “ambitious” and potentially cause delays.
BIS Countdown: Sir John Grieve - In the eye of the storm
As deputy governor of the Bank of England, Sir John Gieve was in the centre of the worst financial crisis for a century. What has hindsight revealed and what are his views on the subsequent regulatory shake-up?
Biba and IIB call for FCA changes
The two broker bodies, Biba and the IIB, have jointly called for regulatory barriers to be lowered and for the current inappropriate style and intensity of regulation to be reformed.
FCA needs to embrace true reform
Brokers tend to skirt warily around telling the Financial Services Authority what its business should be and how to go about it — for good reason, as Willis might testify. But I was surprised that trade representatives were so circumspect about its…
Broking focus - Regulation: The new broom
The Financial Conduct Authority will assume responsibility for the regulation of brokers taking over from the Financial Services Authority at the end of 2012. The Institute of Insurance Brokers, the British Insurance Brokers' Association and the London &…
Mobile phone insurance: We've got your number
Mobile phone insurance is a high-frequency claims product but has been criticised by the ombudsman and consumer groups. Ralph Savage reviews the sector to discover if this niche is offering value for money.
MPs for Financial regulation scrutiny panel unveiled
Half of a 12 member committee charged with scrutinising the government’s draft Financial Services Bill have been identified by the House of Commons.
Hoban addresses insurance community
This morning Mark Hoban, Financial Secretary to the Treasury gave a speech to the London 100 Group at the City of London Club.
News analysis - Regulation: The more things change
With detail emerging on what life under the Prudential Regulation Authority will look like, Mathew Rutter analyses the similarity of themes to the current approach and pinpoints potential problem areas.
FCA will be "tougher and bolder" than FSA
The Financial Services Authority has outlined how its successor body charged with conduct and market regulation will be “tougher, bolder and more engaged with consumers".
ABI Conference: FSA and Eiopa clash over Bank of England role
The Financial Services Authority has clashed with the European Insurance and Occupational Pensions Authority over the Bank of England’s role in the regulation of the insurance sector.
Only 12% believe Government FSA overhaul will meet 2012 deadline
Almost three fifths (58%) of insurance professional questioned by the Chartered Insurance Institute think that the industry’s needs have not been taken into account in the plans to overhaul the Financial Services Authority.
Biba: regulation is bigger burden than tax
The regulatory burden imposed by the Financial Services Authority (FSA) on the insurance broking sector is a greater competitive disadvantage than the amount of corporation tax it pays, the British Insurance Brokers’ Association has warned.
ABI issues regulatory overlap warning
The Association of British Insurers has warned that the new financial regulatory authorities could lead to dual regulation for its members.