Lloyd’s has published Market Bulletin Y5381, in which it is setting out requirements for exclusions in standalone cyber-attack policy wordings from March 2023 for state-backed cyber-attacks. It has said that its insurers will be required to stop covering state-backed...
Published as a Financial Ombudsman Service (FOS) Insights blog, Simon Rawle, Ombudsman Leader, has outlined the new Duty from the FOS’ perspective and explains how the FOS is working with the FCA and other stakeholders in relation to the implementation of the Consumer...
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...
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 FCA has published its 26th May 2022 Board meeting minutes, which cover a number of issues including the Consumer Duty, the Regulatory D&I Framework, and the FCA’s Freedom of Information Act (FOI) and Subject Access Request (SAR) pressures. The Consumer Duty...
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