Regulation
IOR releases second installment of risk management guidance
The Institute of Operational Risk (IOR) has published the second sound practice guidance paper in its new series on the topic of Risk Control Self Assessment.
FSA unveils intensive consumer protection strategy
Hector Sants, CEO of the Financial Services Authority (FSA), has outlined the watchdog's new consumer protection strategy.
FSA to consult further on PPI following "highly critical" industry response
The Financial Services Authority (FSA) is to embark on further consultation for its plans to reform the Payment Protection Insurance (PPI) market.
HMRC issues VAT changes via podcast
HM Revenue & Customs (HMRC) has launched its first ever Super Podcast, to alert businesses to major changes in the way they file and pay VAT, PAYE and corporation tax
Parliament considers MoJ reforms
Parliament is considering the Ministry of Justice (MoJ) fast-track cost regime reforms for low level road traffic accident personal injury claims.
Are we getting our just deserts?
One can only surmise that sometime in the past, Gordon Brown had an unfortunate experience with a general insurance broker
Brokers warned: IMD review may enforce UK fee disclosure
Broker trade bodies have warned that the current revamp of European law may lead to commission disclosure becoming mandatory in the UK
Confusion predicted in aftermath of Sants exit
Industry experts have voiced fears that the departure of Financial Services Authority (FSA) head Hector Sants will plunge the insurance sector into confusion
'Obscene' levies squeeze broker finances
Brokers could be forced out of business as a result of huge financial demands in the shape of a £70m levy made by Financial Services Compensation Scheme (FSCS) and a significant increase in minimum Financial Services Authority (FSA) fees
More than 30% say RDR review will benefit no one
New research from Paaleads.com, Moneysupermarket.com’s lead generation business, shows that 31% of its financial advisers say the proposed retail distribution review (RDR) will benefit no one.
Law firm claims more companies may fight FSA decisions
Mathew Rutter, financial services partner at law firm Beachcroft, said: "The FSA has told firms to "be afraid", and now we know why."
FSA fines could treble in size
The Financial Services Authority (FSA) has published its new penalties policy, which it claims "establishes a consistent and more transparent framework" and could see enforcement fines treble.
ABI welcomes Government asbestos pledge
The Association of British Insurers (ABI) has welcomed the announcement by the Justice Secretary Jack Straw of a package of measures to help people with asbestos-related diseases.
FSA issues warning following rise in 'boiler room' activity
The Financial Services Authority (FSA) has warned of an increase in overseas fraudsters selling shares using the names, registration numbers and addresses of FSA authorised firms and individuals.
One in five admit to insurance 'fronting'
New research from the Motor Insurers Bureau (MIB) and Aviva reveals that 70% of UK drivers do not understand what 'fronting' means, but that one in five of those that do understand the term admit to it.
Firm warns of power vacuum following Sants departure from FSA
The UK financial services industry needs to remain calm despite the announcement of Hector Sants' departure from the Financial Services Authority (FSA), warns Wolters Kluwer Financial Services.
Biba speaks out against FSA's proposal to more than double minimum fee
The British Insurance Brokers’ Association (Biba) has criticised the Financial Services Authority’s (FSA) consultation paper CP10/05 which suggests raising the minimum fee from £450 to £1,000
FSCS predicts rise in PPI claims
Rising payment protection insurance (PPI) and investment claims are key drivers of compensation costs for the rest of 2009/10 and into 2010/11, according to the Financial Services Compensation Scheme.
FSA bumps up annual funding requirement
The Financial Services Authority (FSA) has announced its proposed annual funding requirement for 2010/11 which requires an increase of 9.9% in overall funding.
ABI hits back at Government employers' liability proposal
The ABI has voiced concerns about proposals to set up an Employers’ Liability Insurance Bureau (ELIB), as outlined in a Department for Work and Pensions consultation paper
Hector Sants resignation could leave regulator hamstrung
Hector Sants resignation risks the regulator looking like a lame duck as political parties squabble over regulation, according to a City law firm.
FSA CEO Hector Sants to leave in summer
The Financial Services Authority (FSA) has announced that Hector Sants will leave the organisation in the summer of 2010, after three years as CEO.
IFB enhances fraud awareness
The Insurance Fraud Bureau (IFB) has seen website and Cheatline figures rise significantly during 2009 following a rise in public awareness.
Law firm calls for FSA governance plans to be delayed for insurers
Proposals by the Financial Services Authority (FSA) to reform corporate governance should be delayed for insurers, according to law firm Reynolds Porter Chamberlain (RPC).