Compliance
Fair value not a Trojan Horse for price regulation, says FCA boss Nikhil Rathi
The onus on firms to satisfy themselves about fair value under the Consumer Duty is “not a Trojan horse for price regulation”, according to Nikhil Rathi, CEO of the Financial Conduct Authority.
A leap yeAR blog
On this different numerical day, Emmanuel Kenning takes a look at two sets of intriguing stats from the past month.
FCA promises more speed and transparency on enforcement cases
The Financial Conduct Authority has committed to carrying out enforcement cases more quickly as it opened a consultation on a “step change” in being more transparent when opening an investigation into a firm.
Blog: How brokers can help clients prepare for the next wave of cybersecurity regulation
Brokers can’t afford to be mere bystanders in understanding the upgraded cyber rules of GDPR, and the benefits and process involved in being SOC 2 compliant. Simon Hughes, VP and general manager at Cowbell, explains.
FCA survey outlines broker Consumer Duty performance and room for improvement
The Financial Conduct Authority has released the findings of a survey of 634 mainly SME firms, including 82 personal and commercial lines intermediaries, on compliance and action taken in response to the Consumer Duty.
How AI can help brokers overcome the fear and frustration of compliance in 2024
With compliance costs on the up, brokers need all the help they can get to address this regulatory burden. FullCircl's Ashleigh Gwilliam, and David Sparkes of the British Insurance Brokers’ Association, outline the benefits of a data-drive approach to…
GI & Protection accounted for 4% of FCA financial promotions cases in Q4
The Financial Conduct Authority intervened to get 10,008 financial adverts and other promotions withdrawn or changed in 2023, a year-on-year rise of 17%.
All FCA authorisation metrics out of red zone
No Financial Conduct Authority authorisation metrics were rated red in the third quarter of 2023/24, with brokers also seeing an improvement in most key areas affecting the sector.
Prosura hits £3m GWP in a year
Prosura has already reached £3m gross written premiums, according to Jon Newall, managing director, since it began trading at the beginning of 2023.
Eleven targets hundreds of members in network in next few years
Dawn Derbyshire, managing director of Eleven Network, and David Bruce, Acrisure UK chief operating officer and network CEO, on building to be bigger and better.
Broker Diversity Push: Broking gender diversity in leadership stuck at 16%
The latest update to Insurance Age’s Broker Diversity Push benchmark has revealed women still only hold 16.61% of six key leadership roles in broking.
RSA launches resource hub for broker profin clients
RSA Insurance has launched a bespoke online resource hub to help broker clients protect and manage their business.
Insurance industry achieves FCA fine free 2023
The Financial Conduct Authority dished out £52.8m in fines in 2023, the second lowest total since the regulator was formed in 2013.
Broking Success: Customer service is key for retention
Ben Henderson, managing director of Brownhill Group, is looking to expand the family-run broker’s in-house schemes and double gross written premiums.
Review of the Year 2023: Sicsic Adivsory’s Nadege Genetay
Nadege Genetay, partner at Sicsic Advisory, risks hate mail by citing the FCA action on multi-occupancy building insurance as her highlight of 2023 and predicts some brokers might move away from commission to remuneration based on work performed.
Video Q&A: FullCircl CEO and co-founder Andrew Yates
Following its partnership with Acturis to integrate its SmartBroker solution, FullCircl CEO and co-founder Andrew Yates explains the benefits for brokers and future plans for the business.
Blog: Paul Tasker on brokers’ anti-money laundering responsibilities and actions
Paul Tasker, CEO of Reg Technologies, sets out responsibilities and a ‘must do’ list for brokers to deliver their crucial role in the fight against money laundering.
What does it take to be a broker NED?
Broker non-executive directors need to have excellent communication skills, bucket loads of experience, and be mindful of conflicts of interest, experts tell Ida Axling.
Andy Fairchild peps up roles with Zing365
Former Broker Network boss and Applied Systems Europe CEO Andy Fairchild has joined insurance training specialist Zing365 as a board adviser and non-executive director.
Members’ 25% growth a “powerful” proof point, says Hedron leader Haggart
Hedron members grew by 25% in the past 12 months, according to analysis by network CEO Chris Haggart.
Centricity MD Becky Morris on meeting its five-year plan with a ‘pretty unique’ approach
Becky Morris founded Centricity, based in Horsham, West Sussex in October 2021 with Financial Conduct Authority authorisation following in February 2022. The business won the Start-up Broker Award at the recent UK Broker Awards.