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Regulation is a government cash cow

I read with interest Tony Cornell's Agenda from last month, but I believe there is one small but sig...

I read with interest Tony Cornell's Agenda from last month, but I believe there is one small but significant point it could have included: there is no need for the Financial Services Authority (FSA) or the government to 'interfere' - so why do they? Firstly, FSA regulation of general insurance brokers is little more than another way of extracting more money from a particular section of society. Secondly, it is an opportunity for the government to distort employment statistics by creating

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FCA proposes 1.4% fee rise for broker block

The Financial Conduct Authority is consulting on raising levies from brokers by 1.4% in 2026/27 – double its annual budget increase – as it also laid out its work programme going into the second year of its five-year strategy.

ManyPets confirms social media clone

Pet insurance managing general agent ManyPets has confirmed a customer was contacted by an X account impersonating its brand and has issued a warning on how increasingly convincing scammers can appear.

Aviva responds to Direct Line’s £10.6m fine

Aviva has confirmed it was fully aware of the ‘historical’ accounting errors that have led to the Prudent Regulation Authority hitting Direct Line Group with a £10.6m fine and stated there will be no impact on the integration or the financial benefits it expects from the takeover.

PRA fines Direct Line underwriter £10.6m

The Prudential Regulation Authority has fined UK Insurance Limited, a subsidiary and principal underwriter of Direct Line Group and now part of Aviva, £10.625m for a miscalculation of its Solvency II balance sheet during 2023 and 2024.

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