Financial Conduct Authority (FCA)
FCA lets insurers lead as consumer protections weaken
The Association of Consumer Support Organisations’ director Matthew Maxwell Scott argues the Financial Conduct Authority's recent reports echo the Association of British Insurers' 18-month-old roadmap, risking consumer protections and repeating the…
Questioning the math behind FCA’s insurance price defence
The Financial Conduct Authority cites cost pressures, rather than profiteering, for motor insurance premium hikes but with record profits and low claims ratios, compliance consultant Branko Bjelobaba asks is that the full story?
What the motor finance ruling means for broking pay
Editor’s View: After the Supreme Court ruling on motor finance sparked an £18bn redress scheme, Emma Ann Hughes asks could insurance broker commission be next under the Financial Conduct Authority’s spotlight?
Sign of the times: grad’s internship plea goes viral
Alexander Mani, an economics graduate seeking an internship, spent 10 hours standing outside the Lloyd’s building with a sign advertising himself for hire – and told Insurance Post that the industry's response was “incredibly welcoming.”
Should premium finance firms be on high alert after motor finance decision?
News Editor’s View: Scott McGee looks at the approaches to commission disclosure taken by various premium finance firms, and how they might be feeling following the Supreme Court's motor finance decision.
FOS motor finance cases fall but still top complaints issues
The number of motor finance commission complaint cases referred to the Financial Ombudsman Service in between the start of April and the end of June dropped to 21,500 cases from 36,000 cases in the first three months of this year.
Biba's Trudgill spots wins in government’s growth strategy
Trade Voice: Graeme Trudgill, CEO of the British Insurance Brokers’ Association, reflects on what more needs to be done in the wake of the government’s new financial services strategy.
'Sting could still be in the tail' after court motor finance ruling
While the financial services industry breathed a sigh of relief on Friday (1 August) afternoon after the Supreme Court’s decision on motor finance, it is not out of the woods yet.
Brewis leaves FCA for KPMG
Matt Brewis, the Financial Conduct Authority’s director of insurance, is leaving the regulator to join KPMG UK, Insurance Post can exclusively reveal.
CII’s Connell on how case studies are key to understanding vulnerability
Trade Voice: Dr Matthew Connell, director of policy and public affairs at the Chartered Insurance Institute, says insurers should use case studies, like those from the ombudsman, to better recognise, understand and respond to customer vulnerability.
Does the FCA’s premium finance inaction show a lack of ambition?
Briefing: After years of signalling action, the Financial Conduct Authority has finally issued an update on its premium finance market review and while Scott McGee observes the watchdog said surprisingly little, those thinking the regulator is backing…
FCA admits profiteering didn’t push up insurance prices
The Financial Conduct Authority has acknowledged the recent surge in motor insurance premiums was driven primarily by external cost pressures rather than excessive profiteering by insurers.
FCA lays out road map to tackle motor insurance costs
The Financial Conduct Authority has outlined what caused motor insurance costs to skyrocket in recent years and explained the steps the regulator, providers and the government should take to reduce premiums.
FCA and ombudsman to overhaul compensation system
The Financial Conduct Authority and the Financial Ombudsman Service have unveiled plans to reform the consumer compensation system.
Why FCA inaction on premium finance is unacceptable
Despite falling motor insurance premiums and political inertia, Rebecca Deegan, director of campaigners Fair By Design, argues inaction on premium finance isn't acceptable and the regulator must act now to end the poverty premium and ensure fair outcomes…
Regulators and Treasury move to scale back SM&CR
Regulators and the Treasury have proposed streamlining the Senior Managers and Certification Regime to drive growth in the financial services sector.
FCA’s CPD cut threatens faith in insurance
Editor’s View: The Financial Conduct Authority’s proposal to scrap the 15-hour minimum annual requirement for continuous professional development for insurers is the wrong move, at the wrong time, with the wrong consequences for everyone, argues Emma Ann…
Lloyd’s managing agent authorisation process to be streamlined
The Prudential Regulation Authority, Financial Conduct Authority, and Lloyd’s have agreed to streamline the process of regulatory approval for Lloyd’s managing agents.
FCA’s Brewis reacts to CPD backlash
The Financial Conduct Authority’s director of insurance Matt Brewis has responded to criticism of the regulator’s proposal to ditch the requirement for 15 hours of continuous professional development a year.
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FCA’s plan to scrap 15-hour CPD faces backlash
Four out of five insurance professionals believe the Financial Conduct Authority’s plan to scrap its 15-hour minimum annual continuous professional development requirement would harm the profession’s reputation, according to a Chartered Insurance…
FCA clarifies stance on non-financial misconduct rules
The Financial Conduct Authority has confirmed that bullying, harassment and violence against colleagues qualifies a breach of the regulator’s conduct rules for insurers.
A step toward smarter, proportionate insurance rules
Trade Voice: Michael Keating, CEO of the Managing General Agents’ Association, feels the regulator's plan to simplify insurance rules will ease the burden of red tape for the trade body's members.
FCA and PRA greenlight Aviva’s Direct Line takeover
The Financial Conduct Authority and the Prudential Regulation Authority have both given the go ahead for Aviva’s £3.7bn acquisition of Direct Line Group.
FCA promotes Pritchard to deputy CEO role
Sarah Pritchard has been appointed deputy chief executive of the Financial Conduct Authority.