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 spent £1.4m on Financial Lives report
The regulator paid other firms £647,651 in 2016/17 to conduct the survey.
Allianz rolls out new data initiative targeting underinsurance in SMEs
Provider says new data base notifies brokers if clients are at risk of being significantly underinsured.
FCA sets out fee consultation
Proposed changes include charging fees to firms who still use paper invoices and revised tariff data for calculating insurers’ fees and levies from 2018/19.
Broking Break: Your top five
Mergers, acquisitions, new Ardonagh leadership and a fresh FCA inquiry all hit the headlines this week.
Quizzical Questions: 10 November 2017
Test your knowledge of the week's news with our topical quiz.
FCA launches market study into wholesale insurance brokers
Regulator says it wants to make sure the sector is fostering innovation and competition.
FCA to launch enquiry into wholesale insurance brokers
Regulator aims to ensure the wholesale market "fosters innovation and competition".
FCA warns lack of AR monitoring puts customers at risk
Regulator issues alert to principals after finding that some fail to undertake sufficient due diligence on ARs.
Quizzical questions: 3 November 2017
Have you been paying attention this week? Test out your knowledge with our topical news quiz.
News analysis: Mind the knowledge gap
Insurance education shortfall revealed by FCA creates opportunity for brokers
ABI hits out at FSCS fee proposals
Biba says brokers should not be worse off and calls again for a separate funding class.
FCA publishes fresh FSCS consultation
Regulator reveals proposals on moving protection intermediaries into the general insurance class, the Lloyd’s contribution, and fees to those dealing with unrated insurers.
PPI complaints on the rise following FCA advert, says the FOS
Two-year campaign encourages customers to act before complaints deadline in August 2019.
Insurance Cares: 50% of financial consumers could be vulnerable
Research from the FCA’s Financial Lives report reveals scale of vulnerability as it shows vulnerable customers are less likely to have “any form of insurance”.
Complaints hit 3.32m for first half of 2017
PPI still makes up the majority of complaints to financial services firms.
Quizzical Questions: 20 October 2017
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Broking break: Your Top Five
A telematics deal, Stackhouse Poland's financial results, CII's sale of Aldermanbury, the 2017 Broker Apprentices and an FCA survey make up the most read stories of this week.
FCA survey reveals gaps in consumer insurance knowledge and take-up
Regulator publishes findings of its largest research pool with UK consumers.
The productivity gap
Biba’s Steve White argues that the heavy burden of regulation is stifling productivity for brokers.
Opinion: Applying the new regime
With the Senior Managers and Certification Regime set to be applied next year, Mike Cranny guides you through the main elements involved and advises you not to panic
Insurance Cares: Insuring customer journeys
Eric Leenders of UK Finance explains how developments in how banks help vulnerable customers prove that the insurance sector can achieve the same outcomes.
The Blog Spot: It’s right to raise awareness ahead of PPI termination date
Arnold Schwarzenegger is being paid a lot to warn people that the deadline for claiming PPI is fast approaching and Siân Barton agrees awareness should be raised.
Broking break: Your Top Five
Deals, bribery offences, Arnold Schwarzenegger and Kanye West hit the headlines this week and make up the five most popular stories.
Quizzical questions: 1 September 2017
Test your knowledge of the week's news with our topical quiz.