Mixed response to latest FCA AR review
Experts welcome oversight but some feel the focus on commercial broker ARs has “little relevancy” and call for a “proportionate” outcome.
The appointed representative model (AR) is under the microscope again thanks to a parliamentary select committee review of the Greensill affair which found that, in some cases, the AR regime was being used in a way that regulators had not originally intended.
This prompted the Financial Conduct Authority (FCA) and HM Treasury to issue a fresh joint consultation on how ARs operate to address potential customer harm.
The AR model is used across the financial services spectrum with insurance ARs
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Regulation
Graham Gibson joins Sicsic
Sicsic Advisory has appointed former Allianz claims boss Graham Gibson as a senior consultant.
FCA warns on fake letters
The Financial Conduct Authority has warned of fake letters claiming to be from deputy CEO Sarah Pritchard and referencing a fake FCA employee.
FCA issues another Close Brothers clone warning
The Financial Conduct Authority has warned that fraudsters have been impersonating Close Brothers trying to scam people with a clone of the authorised firm.
Closing the UK’s access-to-justice gap
Sponsored blog: David Haynes, ARAG CEO, explains why access to justice matters, the role the insurance industry plays in extending it, and why 2026 could prove a critical year.
FCA proposes 1.4% fee rise for broker block
The Financial Conduct Authority is consulting on raising levies from brokers by 1.4% in 2026/27 – double its annual budget increase – as it also laid out its work programme going into the second year of its five-year strategy.
FOS and FCA reveal next steps for system reform
The Financial Ombudsman Service and Financial Conduct Authority have outlined the next steps on their joint work to modernise the redress system.
ManyPets confirms social media clone
Pet insurance managing general agent ManyPets has confirmed a customer was contacted by an X account impersonating its brand and has issued a warning on how increasingly convincing scammers can appear.
Aviva responds to Direct Line’s £10.6m fine
Aviva has confirmed it was fully aware of the ‘historical’ accounting errors that have led to the Prudent Regulation Authority hitting Direct Line Group with a £10.6m fine and stated there will be no impact on the integration or the financial benefits it expects from the takeover.