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.
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.
FCA data shows rise in average home insurance payouts
Process piloted with 31 insurers is set to be made compulsory for all firms and most products.
FCA consults on making value data compulsory
Regulator proposing to extend pilot programme to all firms and to cover most general insurance products.
Biba reveals campaigning themes in 2019 manifesto
Document has 30 calls to action and 26 commitments.
Unauthorised broker targets customers on Instagram
The FCA has issued a warning that GLC Car Insurance is targeting consumers in the UK through the social media platform.
Quizzical questions: 11 January 2019
Test your knowledge of the week's news with our topical quiz.
SM&CR tops experts’ predictions as the 2019 regulatory issue for brokers
FCA fines show firms cannot take their eyes off the ball.
FCA admits to concerns over private warnings as usage drops to zero
Freedom of Information request shows regulator has stopped using them.
Quizzical questions: 04 January 2019
Test your knowledge of the week's news with our topical quiz.
FCA fines down to £60.5m in 2018
Regulator’s annual total falls from £229.5m in 2017.
Review of the year: December 2018
Aviva's claim that it would disrupt the market with its new subscription-style product got brokers talking in the final month of the year.
ABI responds to CMA’s pricing investigation
Competition watchdog criticised the sector and called for pricing intervention options.
Insurance in the firing line as CMA calls for pricing intervention to be on the agenda
Competition watchdog responds to Citizens Advice super-complaint.
FCA publishes new CMC rules
The watchdog will take over responsibility for regulating claims management companies in April next year.
Review of the year: July 2018
Forget having a summer playlist! July 2018 saw brokers more interested with who topped Allianz's “hit list” and Axa's replacement for Amanda Blanc, along with finally having a date for the senior managers’ regime.
FCA insurance spend rises to £264,587 for 2018/19
The regulator stuck with Aon as its broker.
Bluefin fine – 32 FCA staff directly involved in investigation
One year on a Freedom of Information of request from Insurance Age reveals the timeline of events.
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.