Regulation
FCA to look at dual pricing
Regulator details the need for firms to "further improve both competition and their standards of treatment for existing customers" in its Business Plan for 2018/19.
Brexit to cost the FCA £5m in 2018/19
Regulator increases annual funding requirement by 3.2% to £543.9m.
FCA reveals Brexit-focused Business Plan
Regulator pledges focus on EU withdrawal and promises to publish interim findings on wholesale broking and current work on the value of the distribution chain.
Podcast: The top five stories of the week
Ida Axling and Emmanuel Kenning look behind the headlines.
Brokers warn against cutting corners on renewal transparency
Firms advised not to take the regulator's message lightly.
“No excuse” for renewal transparency failings
Brokers urged to heed the latest “shot across the bows” from the FCA.
FCA goes on attack against "unacceptable" renewal failings
Regulator warns general insurance firms after widespread failings to comply with new rules on renewal transparency.
Webinar: What brokers need to know about GDPR
Tune in today to our live event at 11am.
FCA reviewing if Aviva share cancellation plan broke market abuse rules
CEO Andrew Bailey sends letter to MPs.
ICO boosts data protection staff ahead of GDPR
FOI reveals 20% increase in numbers after ICO described being unprepared as its “largest single risk”.
FCA publishes Supervision and Enforcement documents
Regulator aims to provide transparency on its thought process and decision-making.
Biba wants Senior Managers Regime date for brokers "as soon as possible"
Trade body's David Sparkes welcomes the FCA's proposal that smaller firms will move automatically to the new regime.
Blog: Is insurance under-fined?
John Byrne of regulation experts Corlytics controversially argues that brokers could see worse from the regulator and says the market should learn from the “painful lessons” in banking.
Travelers’ Mark Crane urges brokers to take action ahead of GDPR
Crane said failing to follow the rules exposes brokers to "significant risks", including reputational damages and fines.
Opinion: Ann Peel on staying compliant with client money rules
The trouble with client money: One Call’s fine has put the rules back in the spotlight and brokers should be ready for scrutiny, says Ann Peel
News analysis: Brokers welcome IDD delay
UK brokers did not know what the rules would look like until January this year
Hiscox Retail boss reveals investment areas
Chief underwriting officer for Hiscox Retail, Joanne Musselle, commits to investing technology and innovation across all channels including broker.
Editor's letter - March 2018
Turning back time: Brokers should use the delay in IDD implementation to review compliance
Cyber hacks reported to FCA by financial firms hit 69 in 2017
FCA figures show that cyber incidents reported by general insurance firms went up from 1 to 11 in just 12 months.
FCA calls for views on how technology can simplify regulation
Watchdog believes accuracy of data submissions could be improved and costs reduced.
Majority of brokers say GDPR will have negative impact
Research by Ecclesiastical also shows lack of knowledge in the broker sector about the incoming legislation.
European Council approves IDD delays
EU ambassadors confirmed that the council has agreed to delay transposition of the Insurance Distribution Directive.
Marshall Bailey appointed FSCS chair
Bailey, a non-executive director at Chubb European Group, succeeds Lawrence Churchill.
Biba repeats call for separate FSCS levy pot for brokers
The ABI has also responded to the FCA's consultation on the levy, arguing that insurers should not have to pay for "adviser failures".