Financial Conduct Authority (FCA)
Legal experts criticise PRA announcement
The legal sector has roundly criticised the contents of the Financial Services Authority (FSA) and Bank of England’s joint paper describing it as worrying and raising more questions than answers.
Creating FCA and PRA to cost up to £175m
The Treasury has estimated that the cost of establishing the Prudential Regulation Authority (PRA) and transforming the Financial Services Authority (FSA) into the Financial Conduct Authority (FCA) could be between £115m-£175m.
Government takes next step in reform of FSA
The government has published its financial regulation White Paper and draft Bill. These provide further detail on its proposed reforms to the financial regulatory regime within the UK.
New product intervention approach could result in firm TCF rules
The Financial Services Authority (FSA) has revealed its intention to create a single set of rules for product intervention which could involve making all TCF material statutory.
FSA publishes Annual Report for 2010/11
The Financial Services Authority (FSA) has published its annual report for 2010/11, outlining its performance against the priorities set out in its 2010/11 Business Plan and its statutory objectives.
Regulators reveal PRA approach
The Bank of England and the Financial Services Authority (FSA) have published a joint paper setting out the current thinking on how the future Prudential Regulation Authority (PRA) will approach regulation.
Reportage: what is there to be afraid of?
The shake-up of the regulatory regime has got the industry in a sweat, fearing the wounded beast may put it under unwarranted scrutiny. Edward Murray looks at what it means for brokers
Sharp rise in staff exiting FSA
The number of staff leaving the Financial Services Authority (FSA) over the past year has nearly doubled as it prepares for its 2012 overhaul.
Radical product intervention could stifle choice, warns ABI
The Association of British Insurers (ABI) has called for a balanced approach by the Financial Services Authority (FSA) on product regulation that reflects the diversity of retail financial services markets in the UK.
Regulatory burden on brokers is heavier than tax
The British Insurance Brokers’ Association (Biba) has warned that the regulatory burden imposed by the Financial Services Authority (FSA) on the insurance broking sector is a greater competitive disadvantage than the amount of corporation tax it pays.
Biba issues response to Treasury consultation
The British Insurance Brokers’ Association (Biba) has responded to the HM Treasury consultation: A new approach to regulation – building a stronger system, and called for proportionate, appropriate and cost-effective regulation for brokers.
ABI warns against duplication in regulatory reform
The Association of British Insurers (ABI) has called for transparent and accountable co-ordination between the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA).
FSA trebles fines to £97m
The Financial Services Authority (FSA) trebled the value of fines it collected from financial services businesses in just one year, from £33.1m to £96.7m, according to Reynolds Porter Chamberlain (RPC).
FSA to cap headcount as it prepares for restructure
The Financial Services Authority (FSA) has published its business plan setting out the priorities for 2011/12 and implications for its budget.
UK brokers pay three times more for regulation than any other Euro state
The British Insurance Brokers' Association (Biba) chief executive Eric Galbraith called for a fresh approach to regulation as he revealed key findings of research into the cost and future of regulation.
Regulation: Abiding by the rules
As the list of financial regulators grows so, it appears, does the size of their rule books. Branko Bjelobaba hopes a review of the FSA
News analysis - regulation: new regulator confidentiality proposal could spell trouble
Brokers have been warned that the recent announcement of a change in name of their future regulator, from the Consumer Protection and Market Authority to the Financial Conduct Authority, has come with a potential sting in the tail.