Compliance
FCA consults on SM&CR and sets faster authorisation targets
The Financial Conduct Authority has opened a consultation on streamlining the Senior Managers and Certification Regime, and in a second announcement revealed new faster authorisation targets.
Premium Credit open for business after Close Brothers broker and personal lines cuts
Premium Credit has confirmed it is “there to support any distribution partners”, following competitor Close Brothers pulling back on personal lines premium finance lending and exiting up to 120 broker relationships.
CII members give thumbs down to FCA CPD proposal
The Chartered Insurance Institute has found significant opposition to the Financial Conduct Authority’s proposal to end the requirement for insurance employees to do a minimum of 15 hours training and development a year.
FCA confirms £38.8m broker fees for 2025/26
The Financial Conduct Authority has confirmed brokers will contribute £38.8m to its £783.5m budget for 2025/26.
Whistleblowing to FCA tops 1100 again in 2024/25
The Financial Conduct Authority received 1,131 whistleblowing reports in 2024/25, in line with the 1,124 the year before.
FCA looks at removing further unnecessary data reporting
The Financial Conduct Authority is proposing to remove unnecessary data reporting, in a move it said will benefit nearly all firms, help to reduce burden and unlock economic growth.
FCA confirms enforcement transparency after previous name and shame u-turn
The Financial Conduct Authority has published its Enforcement Guide, confirming the dropping of name and shame proposals in favour of keeping its ‘exceptional circumstances’ test.
FCA authorisation service slips back in Q4
The Financial Conduct Authority’s authorisation service in broker-related categories went backwards in the final quarter of the 2024/25 financial year.
Biba 2025: FCA hoping approach will help build confidence in firms
The Financial Conduct Authority hopes firms build confidence in their knowledge of customer service and outcomes, as opposed to undertaking a “tickbox” exercise, delegates at the British Insurance Brokers’ Association conference in Manchester heard…
Biba seeks insurer meetings after publishing disclosure advice
The British Insurance Brokers’ Association has launched cross industry guidance that it hopes will reduce misunderstandings over what should have been disclosed when cover was taken out - which in some cases will cause a claim to be repudiated or reduced.
Biba 2025 Countdown: FullCircl’s Ashleigh Gwilliam
Director of insurance industry growth at FullCircl and a member of the Biba Insurance Technology and Innovation Committee, Ashleigh Gwilliam, on ‘fearlessly defending’ his most conference steps title, the case for business cards and why Oasis’ …
Biba unveils new 5.2% regulation costs metric
The British Insurance Brokers’ Association has revealed for the first time the impact of regulation costs on insurance premiums paid by clients, setting the proportion at 5.2%.
No new FCA skilled persons investigations into insurance in final quarter
The Financial Conduct Authority did not commission any skilled person reports in the insurance sector between January and March, leaving the running total for the 2024/25 financial year at 10.
The FCA’s new five-year plan – what does it actually mean for brokers?
Following the recent publication of its new five-year plan, Insurance Age canvassed opinion from regulatory experts and market commentators on what brokers might expect from the the Financial Conduct Authority between now and 2030.
FCA ends Scottish broker’s trading permissions after dual pricing attestation and response failures
The Financial Conduct Authority has cancelled L R Kennedy Insurance Services’ permission to carry out regulated activities with immediate effect.
The generational wealth gap and investment risks – a looming risk for brokers
Financial constraints have led to a greater reliance among younger generations on alternative investments that pose higher risks for investors and their financial advisors. As a result Kate Albert, CEO and co-founder at Kova Professions, warns brokers…
Newbie News: Taurus Risk
Thomas Beckett, co-founder of Taurus Risk, tells Insurance Age how he started the business and how he aims to grow the broker and find its niche.
Blog: When will broker regulation be proportionate?
With regulation always on the tips of the insurance industry’s tongues when it comes to challenges in the market, Rosie Simms asks how much the FCA needs to do, or pull back from, to have a proportionate recipe for growth?
News analysis: What does Aviva’s commission flex move mean for brokers and their customers?
In February, Aviva told brokers using e-trading platforms Fast Trade and Acturis E-Trade that they could set their own commission rates within set parameters of between 0% and 35%. Saxon East explores what this move means for brokers, their customers and…
Experts hail proportionate regulation in FCA five-year strategy
The Financial Conduct Authority’s strategic plan for 2025-2030 is “expansive and broad”, but the initial impression is positive, “particularly on the noises the FCA has made around proportionate regulation”, according to Jill Hambley, managing director…
FCA to consult on removing minimum training and development hours in insurance
The Financial Conduct Authority will open a consultation this summer including on the definition of SME used in the insurance market as part of its ongoing review of Consumer Duty rules.
FCA launches five-year strategy promising smarter, more efficient and effective regulation
The Financial Conduct Authority has launched its five-year strategy revealing the four priorities for 2025 to 2030.
Jensten launches new network
Jensten Group has launched a new broker network.
FOI reveals smaller broker involvement in FCA’s first Consumer Duty board reports review
The Financial Conduct Authority included 34 firms from the insurance sector in its review of the first annual Consumer Duty board reports, a Freedom of Information request from Insurance Age has revealed.