Financial Services Authority (FSA)
Biba reacts to Government consultation on new regulatory structure
The Government has opened its consultation on the future of financial regulation.
Planned pre-emptive regulatory powers "a nonsense" - RPC
City law firm Reynolds Porter Chamberlain (RPC) has warned the Government’s plan to hand the new financial services regulator the power to publicise an investigation before it is completed is contrary to principles of natural justice and makes a nonsense…
New broker regulator gets backing from FSCS
The Financial Services Compensation Scheme (FSCS) has put its weight behind the decision to make the body accountable to both the new Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA).
The professionalism push: Video interview with Sandy Scott, CII
Sandy Scott, chief executive of the Chartered Insurance Institute talks to Jonathan Swift about the challenges and opportunities facing the general insurance industry in its quest to embrace professionalism.
New broker regulator name changed to FCA
Financial Secretary Mark Hoban MP has announced the new regulator tasked with overseeing insurance intermediaries, previously known as the Consumer Protection and Market Authority (CPMA), will now be called the Financial Conduct Authority (FCA).
Biba demands action from regulator on FSCS
Eric Galbraith, chief executive of the British Insurance Brokers’ Association (Biba), has called on the Financial Services Authority (FSA) to accelerate its fundamental review of the Financial Services Compensation Scheme (FSCS).
Biba hits out at FSCS levy rise
The British Insurance Brokers’ Association (Biba) has hit out at this year's over 50% increase in the Financial Services Compensation Scheme (FSCS) levy.
CEO for new broker regulator unveiled
The Financial Services Authority (FSA) has appointed Martin Wheatley as the new managing director of its Consumer and Markets Business Unit.
Discussion paper gives first hints regarding future philosophy of CPMA
The Financial Services Authority (FSA) has called for a public debate about how it, and in future the proposed Consumer Protection and Markets Authority (CPMA), should pursue the objective of consumer protection and specifically the issue of product…
Intermediary receives FSA fine and ban for 'turning blind eye'
The Financial Services Authority (FSA) has fined an intermediary £25,000 and banned him from working in regulated financial services for his part in a scheme that defrauded Markel and QBE, through its agent Amalfi, of more than £2m.
News review: January 2011
Groupama announced its plans to transfer the Liverpool and Glasgow-based commercial motor accounts of broker Choice Quote to its sister business Bollington, as part of a restructure of its GUK Broking Services arm.
No let-up in FSCS levy burden for next two years
Brokers have been warned that the heavy cost of the levy imposed by the Financial Services Compensation Scheme (FSCS) in 2010 could become the norm for the next two years.
The interview: The charisma in compliance
When Steve White joined Biba in 2004, he brought with him a unique understanding of the application of FSA rules to insurance broking. He has since gone on to be crowned Compliance Personality of the Year 2010. Liz McMahon reports
Brokers to see FSA fees fall in 2011/12
Brokers will see a fall of 9.4% in minimum fee levels from the Financial Services Authority (FSA) in 2011/12 according to its Regulatory Fees and Levies consultation document.
FSA requests over 10% increase in funding
The Financial Services Authority (FSA) has asked for a 10.1% gross increase in annual funding for 2011/12 to £500.5m, up from £454.7m in 2010/11.
FSA to debate new interventionist strategies for the CPMA
The Financial Services Authority (FSA) has published a discussion paper to open a public debate about how it, and in future the proposed Consumer Protection and Markets Authority (CPMA), should best protect the consumer with a specific focus on product…
Amii sees record rise in membership
The Association of Medical Insurance Intermediaries (Amii) has claimed it has experienced an unprecedented increase in membership over the past six months.
FSA fines and bans broker for part in fraud scheme
The Financial Services Authority (FSA) has fined an intermediary £25,000 and banned him from working in regulated financial services for his part in a scheme that defrauded insurers of more than £2m.
Start-up brokers: New Year, new start-up?
What's on your New Year's resolutions for 2011? Get fit, give up the fags, start a new broking business? Malcolm Lee sets out what you need to consider to be a successful start-up broker.
FSA regulatory approach under threat as BBA launches review
The Financial Services Authority's (FSA) principles-based approach to regulation has come under threat from a legal challenge brought by the British Bankers' Association (BBA).
Brokers' expansion plans face lengthy delays
The Financial Services Authority (FSA) is taking more than twice as long to approve regulated firms' expansion plans, known as a variation of permission.
New regulatory bodies need more power, says Sants
If it is to succeed in its goals, the new UK financial regulatory system will need to wield more power than the existing regulator.
FSA fines more than double to record £88m
The Financial Services Authority (FSA) handed down a record breaking £88.4m in fines in 2010 (to December 20), a growth of 154% from last year’s £34.8m, according to City law firm Reynolds Porter Chamberlain (RPC).