BMR Compliance

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

In its thematic Review of Appointed Representatives (TR 16/6), the FCA expressed concern about firms selling travel insurance to customers with pre-existing medical conditions in two stages. This applies when customers make purchases without cover for such conditions at the first stage but are then...

What is the IDD? The Insurance Distribution Directive (IDD) will replace the IMD (current FCA handbook) on 23 February 2018. Its key objective is to bring more firms into scope of the FCA rules, such as aggregators. Key Changes to date Removal of introducing The definition of introducers...

The FCA have published their Policy Statement following CP15/41 and provided final rules and guidance as per their email below; Today, we have published our Policy Statement where we report on the main issues arising from Consultation Paper 15/41 and confirm the final rules and non-Handbook...

The FCA are asking for firms to ensure they have requested the removal of their P2P permissions by October 2016, as per our previous email in this regard. However, they are also asking that firms do not ring to advise them that the permissions have not...

Resulting from responses received on the FSA’s suggested rule changes in Consultation Paper 12/20 “Review of the Client Money Rules for Insurance Intermediaries”, the FCA has released a statement to advise it will not proceed with any changes to the rules and guidance in Chapter...

The FCA have released the following statement on the EU referendum   Please see below the FCA’s full statement on the result of EU referendum. On 23 June, the UK voted to leave the European Union (EU). This has significant implications for the UK. The FCA is in very...

The Insurance Act 2015 With the incoming Act on the horizon, we have put together a suggested change to your TOBA wording to incorporate the requirements for any renewals, new business and mid-term alterations made after 12th August 2016. Please ensure you make the changes to...

We have received notification from the FCA that they are contacting brokers as per below;- In the Budget 2014, the Government announced that it would introduce the Innovative Finance ISA (IFISA), which would allow for peer-to-peer (P2P) lending agreements to be included within an ISA tax...