Prudential Regulation Authority (PRA)
Authorities set out PRA approach
The Bank of England and the Financial Services Authority (FSA) have published a joint paper setting out the current thinking on how the future Prudential Regulation Authority (PRA) will approach the supervision of insurers.
Creating FCA and PRA to cost up to £175m
The Treasury has estimated that the cost of establishing the Prudential Regulation Authority (PRA) and transforming the Financial Services Authority (FSA) into the Financial Conduct Authority (FCA) could be between £115m-£175m.
Government takes next step in reform of FSA
The government has published its financial regulation White Paper and draft Bill. These provide further detail on its proposed reforms to the financial regulatory regime within the UK.
FSA publishes Annual Report for 2010/11
The Financial Services Authority (FSA) has published its annual report for 2010/11, outlining its performance against the priorities set out in its 2010/11 Business Plan and its statutory objectives.
Regulators reveal PRA approach
The Bank of England and the Financial Services Authority (FSA) have published a joint paper setting out the current thinking on how the future Prudential Regulation Authority (PRA) will approach regulation.
Conference may hold long term PPI answers
Tomorrow’s conference on banking regulation may provide some much needed clarity on the future handling of payment protection insurance (PPI) complaints, according to Paul Clark, CEO of Charter UK.
Biba issues response to Treasury consultation
The British Insurance Brokers’ Association (Biba) has responded to the HM Treasury consultation: A new approach to regulation – building a stronger system, and called for proportionate, appropriate and cost-effective regulation for brokers.
ABI warns against duplication in regulatory reform
The Association of British Insurers (ABI) has called for transparent and accountable co-ordination between the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA).
FSA trebles fines to £97m
The Financial Services Authority (FSA) trebled the value of fines it collected from financial services businesses in just one year, from £33.1m to £96.7m, according to Reynolds Porter Chamberlain (RPC).
FSA to cap headcount as it prepares for restructure
The Financial Services Authority (FSA) has published its business plan setting out the priorities for 2011/12 and implications for its budget.
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).
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.
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.
FSCS review put on back burner
The Financial Services Authority (FSA) has put plans to overhaul the Financial Services Compensation Scheme (FSCS) on hold in the wake of this year's sharp levy hike.
Broker regulation - Viewpoint: Securing the future
John Greenway on how, after 23 years as an MP, he is now turning his attention to helping brokers with the new regulatory regime.
Staff 'haemorrhaging' could leave FSA unable to cope with reform
Doubts have been raised over whether the Financial Services Authority (FSA) has the resource to cope with impending regulatory reform as the consultation period for the plans came to an end.
Reportage - Future of regulation: Predicting the future
Everyone is aware the FSA is on its way out but what is less certain is how the new regulatory structure will operate. Liz McMahon explores what brokers can expect in the medium to long-term future.
LMA warns on proposed regulatory system
The Lloyd’s Market Association has argued that the proposed regulatory system for the UK is being created around the banks which will make it over-engineered, unsuitable and unjustifiably costly for the general insurance industry with Lloyd’s brokers…
Power hour: A cooperative coalition?
This month's power hour assesses the impact the Con-Dem Government has already had on insurance and debates how it will continue to influence the industry in the future. Liz McMahon reports.
FSA consultation kicks off with confirmation of 2011 revamp
The Financial Services Authority (FSA) has revealed it will begin its radical transformation at the start of next year as it launched a consultation into the shake-up.
New government: Coalition consequences
The new government has already announced the end of the Financial Services Authority and an Emergency Budget full of spending cuts and tax rises. Emmanuel Kenning looks at the implications for insurance brokers.
Two FSA heads jump ship following plans to reform
The Financial Services Authority (FSA) has been hit by two senior resignations as the coalition Government announced its plans to reform the regulatory system in the UK.