Financial Conduct Authority (FCA)
New compliance firm aims to be "one-stop shop"
A new regulatory consulting firm has launched this month to act as a "first-choice" advisor and "one-stop shop" on regulation and compliance issues for firms in general insurance and legal services.
Biba's new compliance chief urges FCA to back off brokers
The new compliance chief of the British Insurance Brokers' Association (Biba) David Sparkes has vowed to fight for more "proportional regulation".
FCA probe finds "no consistency" in insurer use of private investigators
The Financial Conduct Authority has stated that "there is no consistency" in the way insurance companies use private investigators (PI).
UK General switches back from QBE to Ageas for capacity
UK General has returned to Ageas as capacity provider for its commercial motor business, ending its stint with QBE, Insurance Age can reveal.
Expo South 2013: FCA's regulation approach will cause brokers "brain ache"
The Financial Conduct Authority's (FCA) approach to regulation is "fundamentally new, fundamentally different and will cause a lot of brain ache" brokers heard at Insurance Age's Broker Expo South 2013.
FCA review finds serious problems in PPI complaints handling
The Financial Conduct Authority (FCA) has found serious problems with complaint handling decisions and communications to customers at two thirds of firms reviewed in a payment protection insurance (PPI) investigation.
esure changes “unfair” terms after FCA concerns
esure Insurance has agreed to change two of the terms and conditions in its home insurance and car insurance policies after the Financial Conduct Authority (FCA) highlighted concerns.
Swinton endures 48% profit slump as it confirms job losses
Swinton suffered a post-tax profit slump of almost 50% during 2012 as the high street broker reined in the sale of monthly add-on products.
Berliner exits UK solicitors' PI market
Insurer Berliner is withdrawing from the UK solicitors’ professional indemnity (PI) market.
FCA warns brokers over Pacific Blu
The Financial Conduct Authority (FCA) has told insurance brokers to withdraw sales of Pacific Blu’s policies immediately.
EY nabs ex-FSA chief Nicoll
Sheila Nicoll, the former director of conduct policy at the Financial Services Authority (FSA), has joined EY’s asset management practice as a senior advisor.
Lloyd's in review of sanction controls over US regulator fears
Lloyd’s is currently reviewing the controls used by members of the market to prevent breaking of sanctions with countries such as Iran and North Korea.
Ombudsman confirms new card protection insurance complaints category
The Financial Ombudsman Service (FOS) has confirmed that it has created a new category for complaints about card protection insurance due to the volume of complaints it is now receiving.
CPP insurance mis-selling cost could hit £1.3bn, says FCA
The Financial Conduct Authority (FCA) has reached an agreement with Card Protection Plan (CPP) and 13 high street banks and credit card issuers on the process for repaying customers who were mis-sold CPP’s Card Protection and Identity Protection policies.
Time to look in the mirror
It has long been argued by the insurance industry that the public's perception of the sector has been damaged by the actions of bankers, that insurers have been unfairly tarnished by the same financial services brush.
FCA issues Axa clone warning
The Financial Conduct Authority (FCA) has issued a warning about Axa clone, Axa Isle of Man.
Swinton defends private car renewal deposit scheme
Swinton has defended its use of a private car renewal deposit scheme which has been described as "questionable" by regulation experts.
Editor’s letter - August 2013
“Here’s a wild and wacky suggestion, how about treating customers fairly not mis-selling add-on policies?”
Events roundup: Brokers learn the Three Rs at regulation event
FCA reveals plans for review into conflicts of interest at inaugural Three Rs regulation event, brokers find out about the latest technological advances at e-broking 2013 and getting ready for Broker Expo South and the UK Broker Awards
Swinton fined over add-on sales after FCA probe
Regulator hands broker £7.4m fine because of aggressive sales strategy
Brokers riled by consumer credit licence interim charge
Controversy has engulfed newly-announced consumer credit licence (CCL) charges which could see brokers stung twice for fee payments.
FCA warns firms to take anti-money laundering responsibilities seriously
The Financial Conduct Authority (FCA) has published its first annual report on anti-money laundering (AML).
Let’s hope the FCA really does uncover the Lance Armstrongs of broking
Hot on the wheels of another great day of sport for Britain (Lee Westwood's final day Open slide excluded) the FCA's chief executive Martin Wheatley seized the opportunity to compare the regulation of financial services to the Tour de France.
FCA extends ban and fines former insurance broker £140,000
The Financial Conduct Authority (FCA) has banned and fined a former insurance broker £140,000.