BMR Compliance

Providing bespoke, hands on compliance and training solutions to the General Insurance Industry

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The FCA have made significant changes to the online register from today.  Please click below to view their press release on this. https://www.fca.org.uk/news/press-releases/fca-launches-enhanced-financial-services-register-protect-consumers   ...

The FCA have recently issued a request for input into their SMCR timescales extension, please see below. Last week we published a consultation paper on making changes to its our rules following the extension to the deadline by which FCA solo-regulated firms need to have implemented...

The FCA issued the following update Business interruption: Details of first Case Management Conference The first Case Management Conference before a Judge took place on 16 June. At the hearing, the Judge was invited to consider our application for expedition and admission to the Financial Markets Test...

Firms to prepare for phased move to FCA’s new data collection platform RegData We are preparing to gradually move firms to, RegData, which replaces Gabriel. Firms’ moving dates will be determined by the nature of their reporting obligations and schedules. We'll communicate with your firm directly 3...

The FCA have provided an update on their BI court case. https://www.fca.org.uk/firms/business-interruption-insurance#latest-updates https://www.fca.org.uk/publication/corporate/bi-insurance-test-case-representative-sample-of-policy-wordings-9-june.pdf...

It has come to our attention, that some regulated firms have received an email that appears to be from the FCA, using the email address; connect1@gabriel-fca.org.uk  (or any number after the word Connect) asking them to complete a due diligence questionnaire, which isn’t attached prompting...

The FCA has extended the maximum period firms can arrange cover for a Senior Manager without being approved, from 12 weeks to 36 weeks, in a consecutive 12-month period. The modification by consent to rule SUP10.3.13R is available to all solo regulated firms. It aims to provide flexibility to...

The FCA recently issued ‘Coronavirus and customer in temporary financial difficulty: guidance for insurance and premium finance firms. https://www.fca.org.uk/publications/guidance-consultations/coronavirus-customers-temporary-financial-difficulty-draft-insurance-premium Whilst the FCA are not seeking formal consultation on this, there is a deadline to feedback any issues by lunchtime Tuesday 5th May with the guidance coming into...