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Government admits insurance firms pose less "systemic" risk

parliament

In outlining its plans for the replacement of the Financial Services Authority today the Government has given the strongest sign yet that it will differentiate between the insurance industry and other higher risk sectors.

In its consultation "A new approach to financial regulation: building a stronger system" published today it confirmed that it is to rebrand the Consumer Protection and Markets Authority as the

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FCA vows to keep pressure on premium finance APRs

The Financial Conduct Authority has said it will “continue to put pressure” on companies offering premium finance in a bid to continue lowering annual percentage rates after revealing the impact its enforcement action has had so far.

FCA’s Knight insists CPD changes are not a relaxation

The Financial Conduct Authority’s decision to ditch its 15-hour-per-year continuing professional development requirement for insurers should not be viewed as a relaxation of standards, according to the regulator’s director of insurance, Chris Knight.

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