Regulation
The Blog Spot: From the Mob to the FCA – the law of unintended consequences
Emmanuel Kenning asks if the FCA will be looking at the concept of brokers owning MGAs.
Biba manifesto 2018: Push to prevent regulation stifling productivity
Biba calls for stability in rate of regulatory change, proportionate supervision and a global competition objective for the FCA
FCA consulting on widening access to FOS for SMEs
Consultation runs until April with rules set to be announced this summer.
Brokers face another FSCS hike and situation could yet get worse
Levy set to jump from £18m to £23m in 2018/19 despite shortening of the accounting period.
Podcast: The top five stories of the week
Emmanuel Kenning and Siân Barton discuss the key points from the week's news.
Blog: Despite the IDD delay brokers have a lot of work to do
Ann Peel, technical consultant at Insurance Compliance Services, urges brokers to take action ahead of the implementation of the Insurance Distribution Directive.
FCA fines totalled £229.5m in 2017
Compliance experts warn that regulator still has appetite for issuing fines.
Charles Randell to replace John Griffith-Jones as chair of the FCA
Randell to take up role on 1 April.
Review of the year: December 2017
Bluefin being fined £4m by the FCA dominated the interest of Insurance Age’s readers in the final month of there year. There were two stories in the top five but there was also room for a new MGA, a fraud court case and another look at Amazon’s insurance…
Biba welcomes proposed delay to IDD as good news for brokers
David Sparkes calls potential delay a “great” and “sensible” step.
European Commission seeks to postpone IDD until October 2018
New proposals could see seven month delay.
Travelers Europe opts for Dublin in response to Brexit
Insurer joins XL Group in choosing the Republic of Ireland.
FCA warns of unauthorised firm targeting the UK
Regulator urges insurance industry and clients to be wary of "bogus entity" Bulwark Insurance.
The Blog Spot: A holiday warning
Bluefin's £4m FCA fine has shaken the market and Ida Axling wonders whether this is just the first of many similar stories to come.
FCA reveals transition proposals for Senior Managers Regime
The regime replaces Approved Persons and the regulator advised it wanted most transitions to take place automatically.
FCA report reveals Bluefin's targets to place business with Axa
Last week the regulator fined Bluefin £4m for misleading its customers.
Bluefin’s £4m fine should serve as “wake-up call” for brokers, say experts
Compliance specialists say brokers need to ensure there are no conflicts of interest.
The FCA fines Bluefin £4m
Regulator says broker failed to manage conflict arising from being owned by Axa in 2011 to 2014.
InsurTech Futures: FCA reveals third sandbox cohort
A number of insurance firms have joined the latest wave as part of the watchdog’s innovation scheme.
Insurance Cares: When complying can be rewarding
Tim Ryan, chairman at Ryan's, discusses the benefits of protecting vulnerable customers and urges brokers to change their thinking.
FCA spent £1.4m on Financial Lives report
The regulator paid other firms £647,651 in 2016/17 to conduct the survey.
GDPR will force up cyber security standards – Europol
Rob Wainwright, executive director at Europol, explains how cyber has transformed criminal activity.
MP tables motion in Parliament urging government to freeze IPT
Early Day Motion calls on government to make the commitment in upcoming Budget.
Insurance Cares: BSI launches code to protect the vulnerable from financial abuse
The business standards company has developed a code of practice featuring recommendations to help organisations protect vulnerable people from fraud and financial abuse.