Regulation
Goldman Sachs hit with £17.5m FSA fine
The Financial Services Authority (FSA) has fined London-based firm Goldman Sachs International (GSI), part of the Goldman Sachs Group, £17.5m for breaching FSA principles.
Willis to appeal Indian regulatory renewal rejection and form new joint venture
Willis Group Holdings is to appeal the decision by the Insurance Regulatory Development Authority (IRDA) that it is "not inclined to accept" the license renewal application of the broker's joint venture in India, Willis India Insurance Brokers Pvt…
Margaret Cole appointed to FSA Board
Margaret Cole has joined the Financial Services Authority Board as managing director of enforcement and financial crime, effective from today, 7 September 2010.
CII launches online ethics course
The Chartered Insurance Institute (CII) has launched an online learning course in ethics for all Personal Finance Society (PFS) and CII members in response to a dip in public confidence in insurance.
EU gives green light to super regulators
The European Union (EU) has reached an agreement on the reform of financial supervision, paving the way for the creation of new pan-EU supervisory authorities which will oversee controls on banks and insurers.
FSA imposes lifetime ban on broker
The Financial Services Authority (FSA) has banned insurance broker David Marriott for persistent misuse of client money after using clients funds to support his businesses and finance bonuses, salary increases and new cars.
FSA slaps Zurich UK with record fine for data loss
The Financial Services Authority (FSA) has hit Zurich UK with a record fine of £2.275m for failing to have adequate systems and controls in place to prevent the loss of customers’ confidential information.
Climate science: Too hot for comfort
Global warming is one of the most contested and emotive issues in the world. Regardless of whether the experts are right or wrong, the industry has to face the challenge, writes Danny Bradbury.
Video: Axa claims MD puts weight behind broker levy fight
Axa's managing director of claims, David Williams, talks to Insurance Age about the FSCS levy and insurer responsibility for PPI mis-selling.
FSA demands firms implement new measures to protect PPI customers
The Financial Services Authority (FSA) has given firms until the end of November to implement a set of new measures intended to help protect consumers in the payment protection insurance (PPI) market.
RPC research shows FSA resignations up 128% in a year
There has been a 128% leap in the number of staff resigning from the Financial Services Authority in just one year as the government proposes to abolish the regulator, according to city law firm Reynolds Porter Chamberlain.
Legal: The opportunity of uncertainty
The vague Green Economy Bill is not an excuse for the industry to ignore climate change risks, rather to take a lead in tackling the problem and grab a big opportunity, writes Lindene Patton.
Viewpoint: The carbon challenge
Climate change remains controversial for broking. Either it is not discussed or it is addressed in the context of new business opportunities such as renewable energy. Regardless of a broker's positioning on climate change, it has become a regulatory…
Royal Bank of Scotland Group fined £5.6m by FSA
The watchdog has fined members of the Royal Bank of Scotland Group (RBSG) £5.6m for failing to have adequate systems and controls in place to prevent breaches of UK financial sanctions.
Viewpoint: It's PPI payback time
After months of speculation, the letter has arrived. Andrew Welch explores just how hard brokers have been hit by this year's soaring FSCS levy as the FSA claws back cash to cover claims from mis-sold PPI policies.
Power hour: A cooperative coalition?
This month's power hour assesses the impact the Con-Dem Government has already had on insurance and debates how it will continue to influence the industry in the future. Liz McMahon reports.
Editor's comment - August 2010
If one good thing has come out of the Financial Services Compensation Scheme (FSCS) levy debacle, it is that brokers have shown there is only so much they can take.
FSA consultation kicks off with confirmation of 2011 revamp
The Financial Services Authority (FSA) has revealed it will begin its radical transformation at the start of next year as it launched a consultation into the shake-up.
Jackson consultation slated for leaving brokers in dark
Experts have criticised the Government's Jackson review consultation, claiming it has left the industry "in the dark" on key measures.
Management clinic- anti-bribery: Don’t slip up
The FSA has published an anti-bribery and corruption in commercial insurance report. It seems to relate to overseas markets, so does it apply to my firm?
Government to consult on how to implement Jackson Review
The coalition Government has announced a consultation on implementing the recommendations laid out in Lord Justice Jackson’s Review of Civil Litigation Costs.
Treasury launches regulatory reform consultation
Financial Secretary to the Treasury Mark Hoban MP has today (26 July) launched the Government’s consultation on the implementation of reforms to financial regulation.
FSCS has paid out over £200m in compensation
The Financial Services Compensation Scheme’s (FSCS) annual report and accounts for 2009/10 has revealed that more than £204m has been paid out in compensation to over 21,000 claimants.
Three arrested in cash for crash operation
Durham Constabulary’s Serious and Organised Crime Group has arrested three men as part of an ongoing major investigation into organised criminals believed to be involved in ‘crash for cash’ activities.