Financial Services Compensation Scheme (FSCS)
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.
Quizzical questions: 12 October 2018
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Broker named on FSCS insolvency list
Organisation declared six financial firms in default in August 2018.
Danish legal changes to affect FSCS-style claims come January
Another Alpha would hit UK insurers but policyholders would still be compensated.
Ignition Select declared in default by FSCS
The FSCS will step in to help consumers affected by the collapse of the broker which went into administration last year.
Podcast: The top five stories of the week
Siân Barton and Ida Axling chat about the most popular stories to hit the headlines.
Alpha collapse: FSCS transfers 177,000 GAP policies
The regulator has worked with Premia Solutions to replace GAP policies following Alpha going into liquidation earlier this year.
FSCS calls on brokers to help form response to Alpha failure
First time the body has requested market input in this way.
Biba 2018: FCA pledges “perennial” client money focus
The regulator spoke at a panel session on how customers are at the heart of the broker business at the Biba conference.
Unrated Alpha - policies no longer in force amid bankruptcy
Cover ended on 8 May 2018.
FCA outlines PI threat in FSCS review
Watchdog says plans supported on compensation limits and funding classes but respondents outlined concerns over proposed clampdown over how investment firms buy PI cover.
FSCS paid claims of £16.5m to former Gable policyholders in 2017
The bankrupt insurer had 60,000 UK policyholders and was working with 12 brokers in UK.
Quizzical questions: 16 February 2018
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Marshall Bailey appointed FSCS chair
Bailey, a non-executive director at Chubb European Group, succeeds Lawrence Churchill.
Biba repeats call for separate FSCS levy pot for brokers
The ABI has also responded to the FCA's consultation on the levy, arguing that insurers should not have to pay for "adviser failures".
Brokers face another FSCS hike and situation could yet get worse
Levy set to jump from £18m to £23m in 2018/19 despite shortening of the accounting period.
Quizzical questions: 3 November 2017
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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.
The productivity gap
Biba’s Steve White argues that the heavy burden of regulation is stifling productivity for brokers.
Bollington's Paul Moors hails "excellent" results for 2016
CEO says 2016 results were "best for some time" after pre-tax profit rose by 54%.
Broking break: Your Top Five
Marmalade, the Financial Conduct Authority, Gable and Moneysupermarket.com hit the headlines this week, with new products, regulation updates, return payments and a fine.
Gable policyholders receive £8.3m return payments
The FSCS has given 28,000 return of premium payments to former policyholders of Gable Insurance.
Firms' Brexit contingency plans may lead to difficulties, says FCA
CEO Andrew Bailey states firms making plans before knowing the outcome of Brexit negotiations may find themselves in a difficult situation.