With the publication of the final rules there is now only a year to go before firms must comply with their Consumer Duty obligations. The FCA has emphasised that this must be a major cultural shift. While it’s good news that...more
On 4 October 2019, the FCA published its much anticipated Interim Report on its Market Study into general insurance pricing practices (the “Interim Report“)....more
From 1 April 2019 two significant changes take effect:
- The jurisdiction of the FOS is extended to cover small and medium-sized enterprises, certain charities and trusts and personal guarantors; and
- The FOS award...more
FCA publishes its Final Report for Wholesale Insurance Broker Market Study -
The FCA has published today its final Report in respect of its Market Study of the wholesale insurance broker market....more
2/20/2019
/ Competition ,
Conflicts of Interest ,
Consumer Insurance Products ,
Contract Terms ,
Disclosure Requirements ,
Financial Conduct Authority (FCA) ,
Insurance Brokers ,
Insurance Regulations ,
Reinsurance ,
Remuneration ,
UK
FCA publishes final guidance on regular premium PPI complaints and new consultation on mailing rules....more
11/13/2018
/ Consumer Complaint Management ,
Consumer Insurance Products ,
Disclosure Requirements ,
Final Guidance ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Insurance Regulations ,
Payment Protection Insurance ,
Sales Commissions ,
Transparency ,
UK
On 24 October 2018, the FCA published a report on the progress of its consumer communications campaign on PPI mis-selling (the “CCC”) and its supervision of the manner in which firms are handling PPI complaints....more
11/7/2018
/ Complaint Procedures ,
Conflicts of Interest ,
Consumer Credit Act ,
Consumer Insurance Products ,
Failure To Disclose ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Insurance Regulations ,
Ombudsman ,
Payment Protection Insurance ,
Sales Commissions ,
UK
FCA Consultation Paper 18/18 -
On 4 July 2018, the FCA released a Consultation Paper providing guidance and seeking responses on PPI mis-selling complaints, and the issue of recurring non-disclosure of commissions. ...more
On 20 June 2017, the Financial Conduct Authority (“FCA“) published a Call for Input inviting firms (amongst other stakeholders) to submit their views on the challenges they face in providing travel insurance to consumers who...more
On 6 March 2017 the FCA published its first consultation paper (CP 17/7, the “Consultation Paper“) on its proposals for implementing the Insurance Distribution Directive ((EU) 2016/97, the “IDD“). The deadline for...more
On the morning of 2 March 2017 the FCA published PS 17/3 (the “Policy Statement”), its response to feedback on its proposals regarding the handing of Payment Protection Insurance (“PPI“) mis-selling complaints. The FCA’s...more