Regulation
FCA proposes £537.7m fee budget for 2019/20
The figure is a 2% increase on last year’s with £29m to come from general insurance mediation.
FSCS names Caroline Rainbird as new CEO
She replaces Mark Neale who announced last year that he was to leave in May after nine years in the role.
FSCS further extends CRL's Alpha deadline
FSCS "hopeful" 30 April deadline could lead to a deal being agreed as CRL continues to look for replacement cover following unrated insurer Alpha's bankruptcy last year.
FCA warns brokers to be ready for SM&CR
The regulator urged brokers to prepare early for the regime which comes into force on 9 December this year.
Podcast: The top five news stories of the week
Which articles were brokers most interested in for the week commencing 8 April 2019?
CRL responds to FSCS Alpha deadline extension
CEO Steve Mansour says the broker has been working with the FSCS for some months in order to help transfer policies affected by Alpha’s bankruptcy last year.
Flaxmans launches ombudsman SOS service for brokers
The service has been designed to help brokers assist clients when claims are refused.
Brokers and FSCS step in for Qudos customers following unrated insurer's collapse
The FSCS named Adrian Flux and Tobell Insurance Services as it detailed the transfer of 165,000 policies from the bust Danish provider.
FCA bares teeth at GI firms over treatment of customers
A "dear CEO" letter warned the GI market that the regulator will be monitoring firms to ensure they are conforming to relevant rules and meeting its expectations.
FCA warns firms to take action on GI distribution failings
Regulator will "not hesitate to intervene" where brokers and insurers are failing to consider value to customers.
Insurance Cares: Biba supports FCA’s update on extended travel signposting
Regulator updates guidance in terms of travel insurance for individuals with pre-existing medical conditions.
Quizzical questions: 5 April 2019
Test your knowledge of the week's news with our topical quiz.
CRL has deadline to replace Alpha policies extended
FSCS says the broker is "making progress" in finding replacement cover after unrated Danish insurer Alpha collapsed last year.
FCA begins regulating CMCs
Regulator aims to drive up standards in the sector as more than 900 claims management companies apply for authorisation.
FCA confirms no deal Brexit rules
Rules have been approved by the Treasury and will come into force on exit day if the UK leaves the EU without a deal.
Blog: Beware of the FOS
Ian Mason, of Gowling WLG, considers the impact of the compensation limit increase to £350,000.
Marsh-owner gains approval to buy Jardine Lloyd Thompson
Purchase has been approved by the European Commission.
FCA urges firms to apply for TPR and FSCR ahead of Brexit
Regulator calls on financial services market to submit applications before 28 March.
FSCS recovers £300m for levy payers
The money has been recovered from failed financial services firms and the watchdog claimed that these sums helped reduce FCSC fees.
EY report reveals £1 trillion Brexit exodus
The organisation has estimated that £1trn worth of financial services business across 23 companies has left the UK for the EU.
FCA fines The Carphone Warehouse £29m for mis-selling insurance
Huge penalty levied by the watchdog after a whistleblower sounded the alarm and the FCA launched an investigation which found firm failed to train staff to give suitable advice.
Dual pricing: Working group investigates loyalty penalty
The Competition & Markets Authority has set up a panel to explore how its recommendations are being implemented.
FCA increases Financial Ombudsman Service compensation limit to £350,000
The change will see the limit go up from £150,000 from 1 April and could keep going up annually.
Broker Summit 2019: FCA addresses “hideous” clone brokers
Economist Vicky Pryce also shared some insight around how the economy could perform following Brexit.