Regulation
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.
Biba calls for regulation ‘reset’ in open letter to Chancellor
Graeme Trudgill, CEO of the British Insurance Brokers’ Association, has called for bold action from the UK Chancellor to reset regulation for a more proportionate framework.
Broker pot FSCS compensation ticks up to over £700,000
Claims against the general insurance distribution class, in which brokers sit, resulted in the Financial Services Compensation Scheme paying out £722,000 in the year ended 31 March 2025.
Over half of carriers expect to increase MGA capacity between now and 2027
Almost three in five (57%) of carriers are set to increase managing general agent capacity in the next two years, according to a new survey.
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.
Brokers brought into scope of FCA’s bullying and harassment misconduct rules
The Financial Conduct Authority is extending the scope of serious bullying and harassment in financial firms qualifying as misconduct to around 37,000 regulated firms, including insurance brokers.
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.
Sarah Pritchard named first FCA deputy CEO
The Financial Conduct Authority has promoted Sarah Pritchard to the newly created role of deputy CEO.
FCA opens to applications for firms to experiment with AI in ‘supercharged sandbox’
The Financial Conduct Authority has confirmed the launch of its “Supercharged Sandbox” to help firms experiment safely with artificial intelligence to support innovation.
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.
Three arrested in the UK in FCA led crackdown on illegal finfluencers
Three people in the UK have been arrested as the Financial Conduct Authority led an an international crackdown on illegal finfluencers in a week of action that kicked off on Monday.
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.
FSCS confirms no broker levy for 2025/26
The Financial Services Compensation Scheme has confirmed there will be no 2025/26 levy for the general insurance distribution class in which brokers sit.
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: Laura Hancock urges independents not to give up
Laura Hancock, managing director of Yutree Insurance, has urged independent brokers not to give up, as she acknowledged regulation and other factors being difficult at the moment.
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 2025: Mike Keating on unrated due diligence
Mike Keating, CEO of the Managing General Agents’ Association, analyses how due diligence on unrated capacity should work both ways – from broker to MGA and MGA to broker respectively.
Biba 2025: Caroline Barr named first female chair at Biba
British Insurance Brokers’ Association CEO Graeme Trudgill has announced Caroline Barr as the incoming chair in his welcome speech at the 2025 Biba conference, and he looks to keep the pedal pressed to the floor.
CMA launches Aviva/DLG merger inquiry
The Competition and Markets Authority has today announced the launch of a merger inquiry into the Aviva/Direct Line Group deal.
Biba 2025: Biba welcomes FCA proposals on paring back insurance rules
The British Insurance Brokers’ Association has welcomed the Financial Conduct Authority consulting on stripping back the insurance rulebook.
FCA strips back insurance rule book
The Financial Conduct Authority has laid out plans to remove outdated or duplicated requirements from its insurance rule book, after it asked what improvements could be made.
Broking Success: Pipeline of talent
CJ Insurance, specialists in close protection, security and defence has a pipeline of talent through the business, according to managing director James Clarke, as he targets doubling its size over the next five years.
News analysis: Does the UK broking community actually need another network?
With Jensten becoming the latest addition to the network landscape in March, Martin Friel assesses whether the sector is over subscribed and reflects on how these operations have evolved over the last three decades.