FCA launches phase two of enhanced oversight programme for newly authorised firms
The Financial Conduct Authority has confirmed the start of phase two in its Early and High Growth Oversight programme and an expansion to feature 300 firms.
From October 2021 to March this year the regulator piloted closer supervision Early Oversight with 32 businesses and committed this April to enlarging the programme.
The new function is designed to assist newly-authorised firms adapt to the FCA’s supervision as they start up and grow and to protect consumers from bad practice.
The watchdog acknowledged that newly-authorised firms can sometimes struggle with its rules.
“Many of these firms can grow quickly in their early stages, meaning that
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insight
Biba Conference 2024 countdown: Allianz’s Serge Raffard and Nadia Côté
Serge Raffard, MD of Allianz Personal, and Nadia Côté, MD of Allianz Commercial, reflect on what it’s like being one big family following the LV rebrand, rebuilding the Eiffel Tower sustainably on their stand and taking stock when the dust settles.
Direct Line confirms Milliner to lead on claims in raft of management changes
Direct Line Group has confirmed the appointment of Martin Milliner as managing director of claims, as revealed earlier this week by Insurance Age.
Bryson outlines one product, one platform, one rating ambition for RSA/NIG
Sonya Bryson, commercial lines managing director at RSA, has promised the insurer will not get lost being too inward looking as the integration with NIG proceeds, focusing instead on delivering for brokers as it seeks number one spot in the market.
Bspoke launches new division with fee protection product
Bspoke Group has rolled out a fee protection insurance product for the UK accountancy industry as it launched a new division, Bspoke Fee Protection, with Kevin Igoe recruited as managing director.
Acrisure expands in Scotland with WH&R McCartney buy
Acrisure has added to its reach in Scotland snapping up Motherwell-based WH&R McCartney.
Arag posts 60% profit leap in run-up to Das UK integration
Legal expenses insurer Arag grew profit and turnover in 2023 as it readied itself for the takeover of Das UK.
Konsileo launches academy and grows peer-to-peer learning
Konsileo has launched Konsileo Academy with four content pillars and expanded its peer-to-peer learning.
Biba Conference 2024 countdown: Fenchurch Law’s Alex Rosenfield
Alex Rosenfield, associate partner at Fenchurch Law, is looking forward to reacquainting with Rio Ferdinand and is offering delegates an ‘outstanding shoe-shining’.
Most read
- Wakam receives PRA approval for new £500m GWP UK insurer
- Aviva’s David Martin on the art of the possible
- Brokers push for more from RSA/NIG