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.
Opinion: Mike Cranny on regulation
Uncertain times: Parliament and the regulator have been busy recently, but the best best way to cope with the uncertainty is “business as usual”, says Mike Cranny
FCA publishes inaugural data set on insurance claims
Regulator releases figures from 38 insurers on claims frequencies, acceptance rates and average pay-out for home, home emergency, personal accident and key cover.
FSCS broker levy increases to £13m for 2017/18
Insurers to pay £63m supplementary levy following the failures of Gable and Enterprise.
Enstar appointed as run-off manager for Gable
Liquidator Batliner Wanger Batliner confirms move was effective from 16 December.
FCA issues warning on spoofed email
Regulator urges recipients to delete the email sent on Friday without opening it.
ABI slams new proposals for FSCS funding
Trade body said it was concerned that insurers could bear additional costs.
Brokers could face 63% hike in FSCS levy under new proposals
Regulator sets out three options for changing the FSCS funding classes.
Higher FSCS levy for brokers using unrated insurers – FCA investigation
Question raised in regulator’s consultation on FSCS rules and funding.
FCA consults on FSCS rules and funding
Consultation to close in March 2017 with proposals and further consultation to be published the following autumn.
Broking Break – Your Top Five
Another court case, Biba, the FCA, Lloyd's and the Broker Apprentice come together to form the list.
FCA delays PPI feedback until next year
Watchdog pushes deadline into first quarter of 2017.
FCA says brokers may be underinsured
Regulator has warned that some brokers do not have the right professional indemnity insurance and calls on sector to review its coverage.
FCA spends £272,800 on insurance
The regulator bought its cover via insurance broker Aon for 2016/17.
Broking Break – Your Top Five
From investments to technology, from acquisitions to innovations and liquidator revelations it has been another action packed week in broking.
FCA reveals list of firms in innovation ‘sandbox’
One insurance organisation is part of the FCA scheme which is designed to support innovators navigate the regulatory system.
Biba publishes demands ahead of Autumn Statement
Trade body urges Chancellor of the Exchequer to consider a number of issues including IPT and Brexit.
Market surprised by Reid's Gallagher exit
Reid is fifth person to leave UK Retail CEO role in five years.
FCA to consult on “Mission”
Regulator launches consultation to design guiding set of principles.
Biba urges Enterprise brokers to provide liquidator with policy details
Biba warned that there was little time for brokers to make alternative arrangements for clients. The provisional liquidator is set to go to the Gibraltarian courts on 26 October.
UK General ordered to review AR arrangements
It is believed that the insurer has stopped its appointed representatives (ARs) from selling general insurance products.
Simon Green to leave the FCA
Regulator confirms current director of general insurance and protection is set to depart.
Broking Break: Your top five of the week
GRP acquisition led the way for reader interest this week coming in at the top spot. Brokers were also keen to find out more about Enterprise's parent company which called for administrators and the FCA power outage.
Majority of FCA systems now available again
Hardware incident on Friday knocked out regulator’s systems.
FCA systems out due to "major IT incident"
A number of the watchdog's systems are currently unavailable.