On Friday 29th July the FCA e-mailed letters to all firms with general insurance permissions and those that manufacture or distribute pure protection products. The letters explained that following a multi-firm review and due to insurers and product manufacturers...
Appointed Representatives (ARs) are not regulated by the FCA, so it is Principal Firms’ responsibility to ensure that their ARs comply with the rules. The FCA has said that, whilst some Principal Firms do this effectively, many do not have adequate oversight of their...
On 20th July HM Treasury published details of legislation to enhance the competitiveness of UK financial services and unlock growth and investment across the UK. The page on which the details are published will allow other related documents to be sourced, and where...
Today the FCA has published a Consumer Duty press release, the much anticipated Policy Statement PS22/9 and final Guidance FG22/5 on it’s website. The Consumer Duty sets higher and more defined standards of consumer protection across financial services sectors and...
The FSCS has published its Annual Report and Accounts and the accompanying Class Statements. This analysis looks at the published information in the context of insurer solvency and the implications and consequences for insurance brokers. The FSCS paid out total...
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