Financial Conduct Authority (FCA)
The Financial Conduct Authority is the conduct regulator for 59,000 financial services firms and financial markets in the UK and the prudential supervisor for 49,000 firms, setting specific standards for 19,000 firms.
FCA opens 2025/26 with one S166 in insurance
The Financial Conduct Authority has confirmed commissioning one skilled person report in the insurance sector during the first quarter of 2025/26, after a recent record total the year before.
FCA to consult on £9bn – £18bn motor finance compensation scheme
The Financial Conduct Authority will consult on a proposed compensation scheme for motor finance customers after a Supreme Court ruling on 1 August.
Supreme Court rules on motor finance
The Supreme Court handed down its motor finance judgment on 1 August ruling in favour of the lenders in two out of three cases.
People Moves: 28 July – 1 August 2025
Stay in the loop with the latest insurance personnel moves.
FCA’s Brewis set to leave for KPMG
Matt Brewis, director of insurance at the Financial Conduct Authority, will be leaving the regulator to join KPMG UK in the new year.
Experts respond to ‘much ado about nothing’ FCA premium finance review
“After weeks of speculation, the overall feeling is one of ‘much ado about nothing’ – especially if you’re a firm doing the right thing,” said Michael Sicsic, managing partner of Sicsic Advisory, on the Financial Conduct Authority’s premium finance…
FCA urges improvements after uncovering “concerning evidence” of poor claims handling
The Financial Conduct Authority has urged insurers for improvements in claims handling whilst acknowledging rising motor premiums are mostly driven by external cost pressures.
No broker commission bans or compulsory 0% APRs on premium finance, says FCA
The Financial Conduct Authority has confirmed it is not going down the route of banning broker commission in premium finance and will not be forcing a 0% annual percentage rate or bringing in a single level market-wide cap.
FCA consults on SM&CR and sets faster authorisation targets
The Financial Conduct Authority has opened a consultation on streamlining the Senior Managers and Certification Regime, and in a second announcement revealed new faster authorisation targets.
FCA’s Brewis responds to 15-hour training removal pushback
Matt Brewis, director of insurance at the FCA, has responded to the pushback against the watchdog proposing to end the specified minimum hours of training and development required for insurance employees.
CII members give thumbs down to FCA CPD proposal
The Chartered Insurance Institute has found significant opposition to the Financial Conduct Authority’s proposal to end the requirement for insurance employees to do a minimum of 15 hours training and development a year.
Brokers brought into scope of FCA’s bullying and harassment misconduct rules
The Financial Conduct Authority is extending the scope of serious bullying and harassment in financial firms qualifying as misconduct to around 37,000 regulated firms, including insurance brokers.
FCA confirms £38.8m broker fees for 2025/26
The Financial Conduct Authority has confirmed brokers will contribute £38.8m to its £783.5m budget for 2025/26.
Whistleblowing to FCA tops 1100 again in 2024/25
The Financial Conduct Authority received 1,131 whistleblowing reports in 2024/25, in line with the 1,124 the year before.
FCA warns of Brighton broker clone
The Financial Conduct Authority has warned of a clone claiming to be Brighton-based Premium Wise Insurance Brokers.
Aviva/DLG set for July as regulators rubber stamp takeover
The Financial Conduct Authority and the Prudential Regulation Authority have given the greenlight to Aviva buying Direct Line Group clearing a pathway for the deal to complete next month.
Sarah Pritchard named first FCA deputy CEO
The Financial Conduct Authority has promoted Sarah Pritchard to the newly created role of deputy CEO.
FCA opens to applications for firms to experiment with AI in ‘supercharged sandbox’
The Financial Conduct Authority has confirmed the launch of its “Supercharged Sandbox” to help firms experiment safely with artificial intelligence to support innovation.
FCA looks at removing further unnecessary data reporting
The Financial Conduct Authority is proposing to remove unnecessary data reporting, in a move it said will benefit nearly all firms, help to reduce burden and unlock economic growth.
Three arrested in the UK in FCA led crackdown on illegal finfluencers
Three people in the UK have been arrested as the Financial Conduct Authority led an an international crackdown on illegal finfluencers in a week of action that kicked off on Monday.
FCA confirms enforcement transparency after previous name and shame u-turn
The Financial Conduct Authority has published its Enforcement Guide, confirming the dropping of name and shame proposals in favour of keeping its ‘exceptional circumstances’ test.
Premium Credit research shows finance options crucial to over 25% of insurance customers
More than one in four (27%) insurance customers would cut cover or switch to cheaper policies if they were not able to make monthly premium payments, according to research by Premium Credit.
Analysis: Is the era of offshore capacity over, or is it poised for a comeback?
High profile casualties such as Gibraltar-based Enterprise Insurance Company (2016), and Danish providers Alpha (2018) and Gefion (2021) meant offshore capacity came under scrutiny at the end of the last decade. Today there appears to be less noise about…
FCA authorisation service slips back in Q4
The Financial Conduct Authority’s authorisation service in broker-related categories went backwards in the final quarter of the 2024/25 financial year.