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.
Review of the year: April 2018
In the main, the news of Amanda Blanc's move from Axa to Zurich dominated the headlines in April. Brokers were also particularly interested in the FCA's warning round renewal transparency, Towergate's financial results for 2017 and Jelf, which made its…
Customers brand “sneaky” dual pricing “exploitative”
78% called for a ban on insurance firms charging higher prices for renewals than new business.
The Blog Spot: Solving dual pricing with three figures
In an excellent piece in The Times last month was a reference to a suggestion – that renewal invitations should in fact have three prices on them.
Review of the year: January 2018
2018 started off with a bang with FCA fines and some big ticket M&A involving Markerstudy and A-Plan.
FCA updates approach to authorisation
Feedback statement follows on from consultation that closed in March.
CMA to step up its interest in vulnerable customers
Body still working on investigation following the super-complaint from Citizens Advice, which slammed dual pricing practices in insurance.
FCA calls for Brexit implementation period
Regulator says it prefers the draft withdrawal agreement over no-deal Brexit after impact assessment.
FCA reveals 138% increase in reported tech outages
Regulator highlights 18% are cyber-related.
FCA cancels broking firm's authorisation
Larksway Investments was stopped from providing insurance broking services in September 2017.
Biba repeats call that brokers should prepare for no deal Brexit
Steve White warns that passporting will end.
FCA prepares for no deal Brexit
The watchdog has published a set of proposals to prepare for the possibility of leaving the EU without an implementation period.
InsurTech Futures: Start-up With Jack authorised by the FCA
Broker is the first regulatory exit from Worry+Peace's InsurTech incubator.
Blog: Should brokers be concerned?
Ann Peel poses the question as more SMEs will be able to complain to the Ombudsman.
The Blog Spot: Two sides to the perception gap
The frustration is that insurance has so much to be proud of.
Aviva writing to customers after renewal transparency failing
FCA review led to insurer being “made aware” of problems.
Dye points to pricing changes following claims inflation
Property claims are increasing as Allianz warns that theft is on the up and calls on brokers to carefully communicate with customers and make use of risk management services.
FCA reveals final guidance on PPI complaints
Regulator consulting on new rules requiring firms to write to consumers who have made unsuccessful PPI claims, telling them to complain again.
Podcast: The top five stories of the week
The Insurance Age team discuss the top five stories from the past week featuring fines, the FCA, Ardonagh and Reich.
Quizzical questions: 2 November 2018
Test your knowledge of the week's news with our topical quiz.
Broker Expo: FCA pricing scrutiny provides opportunity for brokers
LV’s Mike Crane stresses that recent regulatory focus is not all bad news for the enterprising broker.
FCA points to “remarkable” insurer failings as it launches “fundamental” market review
Chris Woolard on why the regulator felt it had to act.
Industry keen to work with FCA following dual pricing review
Biba and the ABI welcome the FCA's move, agreeing with the regulator that the market needs to work as well as possible for all customers.
FCA calls on industry to continue work on dual pricing
Regulator points to guiding principles from Biba and the ABI published in May this year.
FCA boss’ CEO letter warns of failures, dual pricing and risk of discrimination
Andrew Bailey sends pricing practices warning.