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...
FCA have launched a new website and are looking for feedback on it ...
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...
DP15/4 – General Insurance Add-ons, Market Study – Remedies, Value Measures The FCA has issued a Discussion Paper, DP 15/4, which can be accessed here. However, to summarise the FCA asking for feedback regarding some items they may look to introduce. The key element is they...
Delegated Authority The FCA has carried out a review into delegated authority schemes run by insurers and intermediaries. The aim of the review was to assess whether firms: Have robust systems and controls in place Exercise appropriate oversight over functions Understand and fulfil their responsibilities to customers Understand and fulfil...
The FCA’s recently published Business Plan for 2015/2016 advises that they will be undertaking a ‘Thematic Review’ on the Role of Appointed Representatives in the distribution of GI products. This review will look at the role and work done by Principal Firms to ensure their...
Consultation Paper from the FCA – An Investigation into Add-On Sales In December 2012, the FCA conducted a study into the sales of Add-Ons in General Insurance and other financial sectors. They followed this with a Market Study in July 2013 and published the findings...
The Financial Conduct Authority (FCA) has published its guidance on financial promotions in social media. This follows detailed engagement and consultation with the industry. The FCA recognises that social media are powerful channels of communication which are of significant value to firms and do not...