Financial Conduct Authority (FCA)
Leader: Once, twice, third time’s a charm?
The idea of regulation is not new for the insurance industry. In November 1998, a government statement concluded that statutory regulation was not suitable for the general insurance market.
View from the Top: Get behind Steve
Congratulations to Steve White on his appointment to the role of chief executive at the British Insurance Brokers Association.
ABI welcomes opportunity to reshape regulator-industry relationship
The Association of British Insurers has welcomed the opportunity to reshape the relationship between the industry and its regulators as the Financial Services Authority is due to be replaced by two new regulatory bodies.
FCA will carry on FSA’s temporary product intervention rules
The Financial Conduct Authority will carry on the Financial Services Authority approach to temporary product intervention.
New regulator pledges to 'act more decisively' than FSA
The Financial Services Authority has outlined the risks that will be a priority in the next 12 months for its successor, the Financial Conduct Authority, when it takes over on 1 April.
Wheatley tells firms ‘no need to be afraid of the FCA’
Martin Wheatley, chief executive of the Financial Conduct Authority, has vowed to take a less aggressive tone than its predecessor in its dealings with regulated firms.
Is Biba’s new chief executive the White man for the job?
Improving the broking sector’s public profile, representing smaller firms and standing up to the incoming financial regulator are among the early challenges facing incoming British Insurance Brokers’ Association chief executive Steve White.
Trio handed panel roles to provide challenge to FCA policy
Three new chairmen have been appointed to the independent panels representing regulated firms which lead the process for constructive challenge of the Financial Conduct Authority’s policies and practices.
FCA unveils three chairmen for practitioner panels
The Financial Conduct Authority has appointed three chairmen to lead the independent panels which will dictate the new regulator’s policies and practice from the point of view of regulated firms.
FSA to ask for disclosure of claims data
The Financial Services Authority has published a discussion paper into transparency and effective disclosure as tools to improve accountability and build consumers’ trust.
FSCS: Off the hook
Changes to the Financial Services Compensation Scheme ahead of the introduction of twin peak regulation have angered brokers, but should insurers be held more accountable?
View from the Top: Where is the love?
Survey peddlers should be off the Valentine’s card list as they predict doom and gloom
Smaller brokers have nothing to fear from Financial Conduct Authority
An ageing workforce rather than more stringent regulation is likely to drive consolidation of smaller brokers in the year ahead, according to market experts.
Regulation: Staggering Along
The switch from the Financial Services Authority to the Prudential Regulation Authority and the Financial Conduct Authority could prove tricky — especially with Solvency II on the horizon.
Insurers argue FSCS funding structure to pay into broker pool is 'unreasonable'
The British Insurance Brokers' Association has condemned plans to revise the funding structure of the Financial Services Compensation Scheme, arguing that the charges faced by insurance brokers remain "unacceptably high".
Corporate governance: Skilled assessment
The Financial Services Authority can request a 'skilled person report' at any time, on any matter. What can insurers do to ensure that their corporate governance is in the best shape?
IUA prioritises regulation and London Market modernisation for 2013
The International Underwriting Association has pledged to develop a new strategy for modernising business processes in the London Market in 2013.
Review of the Year: Brokers - A bumpy ride
Brokers have experienced a somewhat tumultuous year, with imminent regulatory changes, big-name departures and the ongoing financial crisis all leaving their mark on 2012. What next for the sector?
Biba asks Chancellor to consider the FSCS funding model
The British Insurance Brokers’ Association has urged George Osborne to “ensure appropriate and proportionate” regulation for brokers and to consider the Financial Services Compensation Scheme funding model for his Autumn Statement submission.
View from the top: Changing for the better
Increased regulation may be taxing for the industry but will ultimately make it stronger, says Stuart Reid.
Brokers to blame for lack of voice at top table
Brokers need to "stand up and be counted" when it comes to interacting with law makers and regulators, according to Giles Insurance Brokers chief executive Brendan McManus.
Post magazine - 15 November 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Editor's comment: Harmony at last? Maybe not...
Last week was busy for insurers at Parliament. First, something unusual happened in Westminster's corridors of power that could spell good news for the insurance industry.
MPs call for Financial Conduct Authority to regulate CMCs
MPs spoke in favour of referring Claims Management Companies' conduct to the incoming Financial Conduct Authority during a debate at Westminster Hall.