Regulation
FSA confirms extra packaged accounts proposals
The Financial Services Authority (FSA) has confirmed it will be implementing two further proposals to its packaged bank account rules.
Queen labels FSA "toothless"
The Queen has blamed the Financial Services Authority (FSA) for lacking "teeth" ahead of the 2008 financial crisis.
Allanfield suspends trading on AIM
Allanfield Group has been suspended from trading on AIM.
Editor’s letter - December 2012
“Innovation, professionalism and sheer determination are just some of the qualities that have helped brokers turn the threats in 2012 into opportunities”
Regulation worries
One year on since the merger of Biba and the IIB, Barbara Bradshaw details her travels to the regions and the concerns over regulation
Brokers face £20m hike in FSCS levy
The Financial Services Compensation Scheme (FSCS) has indicated that it will demand a further levy of £21m from the insurance intermediary sub-class in the first quarter of 2013.
Biba urges government to re-think regulatory approach
The British Insurance Brokers’ Association (Biba) has called on the government to address regulation issues and to provide more support for the general insurance broking sector in the upcoming Autumn Statement.
Compliance pay costs soaring
Research by recruitment firm Robert Half has pinpointed the soaring costs of compliance experts on the City of London.
MASS calls for better resources to tackle crash for cash fraud
Crash for cash figures released by the Insurance Fraud Bureau (IFB) have been branded “astonishing” by the Motor Accident Solicitors Society (MASS).
Broker reveals revenue and profit overstated by over £800,000
Allanfield Group has overstated its revenue and profit before tax for the financial periods ended December 2010 and 2011, and the six months ended June 2012.
HomeServe profits rise but falling customers impact revenue
HomeServe has reported an operating profit of £27.1m for the six months ended September 2012.
CASS changes boost broker interest in Bluefin network
Bluefin Insurance Group has added five new brokers to its broker network, Bluefin Partnership Services (BPS).
FSA hits CPP with joint-largest retail fine of £10.5m
The Financial Services Authority (FSA) has fined Card Protection Plan (CPP) £10.5m for mis-sellling insurance products, the joint largest retail fine ever.
Insurer regulation costs hit £730m
The UK general insurance sector is now paying well over £730m a year to cover the direct costs of regulation and compliance, according to research from Reynolds Porter Chamberlain RPC).
Broker Expo: Learn what the FCA will mean for brokers
With the Broker Expo in Coventry only three days away Terence Clark, compliance director at RWA, has revealed what attendees will hear about in the company’s workshop on The Financial Conduct Authority (FCA).
Brokers set to lose out after OFT motor decision
Brokers warned of potential blow to profitability after watchdog’s move
New regulator rolls out road to power
Consultation paper tempers broker concerns over FCA’s future role
Access to justice
When the laws regarding legal aid change in April next year, brokers need to be ready to advise clients on legal expenses cover, explains Paul Asplin
Please Mr Wheatley…
Despite promises of reduced red tape and less interference, Tony Cornell still fears the rise of the many headed new regulatory regime
All work and no play
With the new regulator fast approaching it seems that every week more and more news stories seem to be focusing on what will change for the insurance industry.
Brokers warned over client money changes
Moore Stephens has warned that the Financial Services Authority’s (FSA) proposed new rules on client money could cost brokers more time and money.
Regulator focuses on broker accounts
FSA’s consultation on client money rules highlights issues for brokers
Concern grows over “shoot first” FCA
Industry responds to comments by the FSA’s managing director
The uncertainty of being an insurer
Brokers need to understand current legal developments to correctly advise clients, explains Tony Cornell