John King is a former manager at the FCA, with 16 years of experience of working in insurance supervision and with enforcement. John works with UKGI, and he has provided his insight on the speech given by Sheldon Mills, the FCA’s Executive Director, Consumers and...
We have recently been made aware that Lloyds Bank and Bank of Scotland (part of the Lloyds Banking Group) have been sending communications to insurance broking firms that hold client monies in undesignated client accounts. The communications are advising brokers that...
Building on its plans for the proposed new Consumer Duty the FCA has issued a further Consultation (CP21/36), which includes a Feedback Statement to CP 21/13. The consultation includes 70 pages of draft guidance to help firms prepare for the new Duty, which the FCA...
As anticipated the FCA has issued a press release and launched a consultation on improving the Appointed Representatives (AR) regime (including IARs) and tackling the harm it sees arising from the current model. The proposals put forward will build upon the FCA’s...
Last month we published a news item about the Financial Ombudsman Service (FOS) publishing a Consultation Paper which set out the temporary amendments it proposed to make to the way it reports business-specific complaints data, particularly the ‘uphold rate’. The...
The FCA has raised concerns about firms failing to meet the new, enhanced product governance requirements which come into effect on 1st October this year. The Regulator has issued a press release, a progress review, a Dear CEO letter and has even published a Portfolio...
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