Financial Conduct Authority (FCA)
FCA bares teeth at GI firms over treatment of customers
A "dear CEO" letter warned the GI market that the regulator will be monitoring firms to ensure they are conforming to relevant rules and meeting its expectations.
Citizens Advice slams home insurers in dual pricing report
Charity calls for the FCA to identify concrete solutions to the loyalty penalty as part of its insurance market study, after survey reveals home insurers make 100% of their profits from loyal customers.
FCA warns firms to take action on GI distribution failings
Regulator will "not hesitate to intervene" where brokers and insurers are failing to consider value to customers.
Insurance Cares: Biba supports FCA’s update on extended travel signposting
Regulator updates guidance in terms of travel insurance for individuals with pre-existing medical conditions.
FCA begins regulating CMCs
Regulator aims to drive up standards in the sector as more than 900 claims management companies apply for authorisation.
FCA confirms no deal Brexit rules
Rules have been approved by the Treasury and will come into force on exit day if the UK leaves the EU without a deal.
Blog: Beware of the FOS
Ian Mason, of Gowling WLG, considers the impact of the compensation limit increase to £350,000.
Quizzical Questions: 22 March 2019
Test your knowledge of the week's news with our topical quiz.
FCA urges firms to apply for TPR and FSCR ahead of Brexit
Regulator calls on financial services market to submit applications before 28 March.
Quizzical questions: 15 March 2019
Test your knowledge of the week's news with our topical quiz.
FCA fines The Carphone Warehouse £29m for mis-selling insurance
Huge penalty levied by the watchdog after a whistleblower sounded the alarm and the FCA launched an investigation which found firm failed to train staff to give suitable advice.
Dual pricing: Working group investigates loyalty penalty
The Competition & Markets Authority has set up a panel to explore how its recommendations are being implemented.
FCA increases Financial Ombudsman Service compensation limit to £350,000
The change will see the limit go up from £150,000 from 1 April and could keep going up annually.
Broker Summit 2019: FCA addresses “hideous” clone brokers
Economist Vicky Pryce also shared some insight around how the economy could perform following Brexit.
Industry urged to tackle dual pricing
Citizens Advice calls for dual pricing discussion to “begin from the assumption that pricing differences are unfair” at Parliamentary meeting of regulators and trade bodies.
FCA finalises no deal Brexit guidance
Regulator clarifies rules around Gibraltar-based firms.
FCA publishes Brexit guidance for general insurance firms
The regulator has issued the information for companies to use in the event of hard or soft Brexit and urged brokers to act “without delay”.
“Surprise” at FCA clean bill of health for “unbalanced” wholesale market
The regulator said there was room for improvement and did not take action but expert suggests brokers expected the watchdog to intervene in what is seen as an “unbalanced market”.
FCA outlines “room for improvement” in £60bn wholesale market
However, the study into it did not identify “significant areas of harm” as Biba welcomes the final report.
FCA sounds latest clone broker alarm
A warning has been published by the regulator about a clone of Protect Your Bubble, which provides gadget and jewellery insurance.
FCA takes regulatory control in event of no deal Brexit
The watchdog has been granted temporary transitional power to delay changes made under the EU Withdrawal Act.
Quizzical Questions: 1 February 2019
Test your knowledge of the week's news with our topical quiz.
FSCS to hit brokers with extra levy bill next month, warns Biba
Trade body also predicts 2019/20 levies will be higher.
PRA CEO letter warns action is needed on cyber
Regulator calls on providers to cover more ground on cyber in relation to risk management, risk appetite and strategy, and pledges to continue to keep cyber insurance underwriting risk under review.