The grass is greener?
Hector Sants recently warned that the FSA's new firmer approach is something to be feared. But how does the UK's regulator model compare to what our EU counterparts have to contend with? Jessica Pothering reports
Hector Sants is no longer Mr Nice Guy (if he ever had been). Having just declared a new era for UK financial regulation, he has built up his army of regulatory enforcement officers and issued a stern warning to rebels that their days are numbered: comply, or else.
Unfortunately, though, those falling under the jurisdiction of the Financial Services Authority (FSA) - the throne that Mr Sants' army defends - have not had much reason to be fearful up to now. And most would probably guess that the
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 or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
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.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
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. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Regulation
FCA defends Consumer Duty to House of Lords Committee
The Consumer Duty has “teeth” and is delivering better outcomes, David Geale, executive director of consumers, payments and competition at the Financial Conduct Authority, has told a House of Lords Committee.
Broker hit for £250,000 – FOI reveals insurance sector’s S166 bill
A Freedom of Information request by Insurance Age has revealed the amount spent by a broker, and insurers, on Financial Conduct Authority-mandated skilled persons reviews that completed in 2025/26.
Insurtech in five-strong FCA innovation and scale-up cohort
Insurtech Urban Jungle has joined the Financial Conduct Authority’s scale-up unit, with the watchdog promising tailored support to help it innovate, navigate regulation and grow sustainably.
Why The Mills Review is the AI starting pistol for brokers
Most coverage of The Mills Review, published on 6 July, has focused on what it does not do. There is no new AI rulebook, no new obligations and nothing specific to implement. But that somewhat misses the point, writes Robin Knowles, compliance consultant at UKGI.
MGAA appoints compliance and regulatory partner
The Managing General Agents’ Association has appointed Padda Consulting as its new UK compliance and regulatory partner commencing 1 September 2026.
FCA highlights Bluefin fine as it warns on vertical business model transparency
The Financial Conduct Authority has published advice on how general insurance firms should manage potential conflicts of interest coming from vertically integrated business models.
PRA fines insurer £4.165m for incorrect FSCS data submissions
The Prudential Regulation Authority has fined specialist insurer HDI Global SE £4,165,000 in connection with the submission of incorrect data to the regulator.
Kent broker halted from doing regulated activity by the FCA
The Financial Conduct Authority has today announced Anthony Jones has agreed to stop carrying out any Part 4A permission regulated activity, meaning it can't provide any services on behalf of an insurer.