Regulation
Drug-gang ghost broker sentenced
Fraudster sold insurance to an organised crime gang in a move which is thought to have helped them avoid police ANPR checks.
Two brokers on FSCS insolvency list
Strathearn Insurance Services and Bellfield Financial Services have been declared in default by the scheme.
Blog: Is your firm ready for the SMCR?
Nick Elwell-Sutton of Clyde & Co outlines the steps that brokers need to take to comply with the impending regulation.
FCA issues fresh warning on broker remuneration
Regulator issued new guidance on how brokers and providers can best serve customers.
FCA and PRA seek to ban and fine former insurance CEO
A joint investigation by the regulators found that between February 2010 and July 2016 Stuart Malcolm Forsyth transferred excessive amounts of his own salary to his wife, and as a result paid £18,000 less in income tax than he should have done.
FCA staff slammed for "shameful" behaviour
Watchdog responds to "unacceptable behaviour" as internal letter reveals "minority of colleagues" in the regulator's Olympic Park HQ have been defecating on the floor, stealing plants and abusing security and catering staff, according to reports.
Biba calls for government commitment to IPT flood spending
Broker trade body wants future government to promise that money raised from the increase in IPT remains earmarked for flood defence and resilience measures.
Lloyd’s to create single governing body
Decision follows consultations which saw over 90% of the market support the idea to merge its Board and Council.
GoCompare warns of ghost brokers on social media
Comparison site says young drivers aged 17 to 24 are most likely to fall victim to ghost broking.
Insurers most at risk from FCA pricing review named by analyst
Analyst firm Peel Hunt highlighted Direct Line, RSA and Saga as particularly vulnerable.
CMA’s investigation into Compare the Market sees timeline extended
Investigation centres on clause included in the aggregator’s home insurance contracts which may potentially cause consumers to miss out.
FCA warns of Broker Insurance Services clone
Regulator detailed that the clone has set up its own phone number, email address and is using a different address to the real firm but the 'clone' has refuted the warning.
FCA updates no deal Brexit guidance
EEA firms passporting into the UK must apply to the temporary permissions regime by 30 October.
Opinion: Ethics consultant Duncan Minty on the FCA's radical approach to regulation
Taking a radical approach: Duncan Minty asks if brokers are on the threshold of predictive supervision?
"Golden age for brokers" as FCA cracks down on dual pricing
Consumer Intelligence CEO Ian Hughes points to opportunities for brokers as the industry deals with the "crack cocaine" of insurance, dual pricing.
Blog: Next steps for the insurance sector as FCA cracks down
Former head of GI at the FCA, Michael Sicsic, reflects on the regulator’s interim report into dual pricing.
FCA denies dragging feet on dual pricing
Christopher Woolard outlined the findings of the regulator’s general market study into pricing and pledged to examine industry impact of the recommendations.
Market warns of "unintended consequences" following FCA dual pricing study
The sector has welcomed further consultation on the proposals which include a potential ban on dual pricing.
FCA considers ban on dual pricing practices
Regulator publishes interim findings in its general insurance pricing practices market study and states that the home and motor insurance markets are not working well for customers.
Brokers welcome IDD impact
The Insurance Distribution Directive has been in force for one year.
FCA updates temporary transitional power directions ahead of Brexit
Regulator says firms do not generally need to prepare now to meet the changes to their UK regulatory requirements connected to Brexit.
One Call’s Radford launches motor broker
Home and motor broker, Yoga, has been set up almost two years after Radford and One Call were fined for client money failings.
Ofsted finds shortcomings in Wiser Academy's apprenticeship scheme
Wiser Academy CEO welcomes feedback and says changes will be implemented by the end of this month.
FCA pushes back publication of dual pricing report
New publication date of the research is October 2019 and the completed report is due during December 2019.