Financial Conduct Authority (FCA)
Treasury aims to tackle aloof nature and expense of regulator
The Financial Services Authority (FSA) is too expensive, aloof and bureaucratic and does not protect consumers from regulatory failure.
Reportage: And a happy new year?
A tough 2011 looks likely to be followed by another 12 months to forget, but there are some things to look forward to, writes Caitlin Morrison
Voice of the broker
Lord Turner’s views on the regulation of the market will undermine the future of the broking industry, says Ashwin Mistry
Broker Expo: Delegates warned that tougher FSA is already here
Brokers have been warned that the Financial Services Authority’s (FSA) long-promised new intrusive approach is already here and that it is not “pussyfooting around anymore”.
Lord Turner calls for debate on higher FCA costs
Lord Turner, chairman of the Financial Services Authority, has called on parliament to give the Financial Conduct Authority (FCA) “the powers and teeth to act early to intervene and prevent customer detriment from occurring”.
Broker Expo South: FCA a “more dangerous and unpredictable animal”
Delegates at the inaugural Broker Expo South event have been warned that the new regulator will be a more dangerous and unpredictable animal and that brokers should prepare themselves for more intrusion.
What The Papers Say - September 2011
In this month's edition Paul Anscombe, managing director of Seventeen Group joins Insurance Age's Liz McMahon and Emmanuel Kenning to discuss the latest news stories in insurance.
IIB turns the screw on regulator
The Institute of Insurance Brokers (IIB) has called for “fundamental regime changes” in regulation.
What will the FCA look like?
The new regulatory regime could have a very different complexion to the current watchdog, explains Terence Clark
Broker trade bodies want lower regulatory barriers
The British Insurance Brokers’ Association (Biba) and the Institute of Insurance Brokers (IIB) have called for regulatory barriers to be lowered and for the current inappropriate style and intensity of regulation to be reformed.
FSA sharpens teeth in advance of new powers of intervention
More financial services businesses are being forced to amend or withdraw advertising material following intervention by the Financial Services Authority (FSA) as it clamps down on misleading adverts, Reynolds Porter Chamberlain (RPC) has claimed.
UK firms feel FSA scrutiny puts them at a disadvantage
The Financial Services Authority’s (FSA) post-crisis clampdown may be harming the UK’s international competitiveness, according to research among senior financial services executives.
Video: What the Papers Say - latest edition
Insurance Age senior reporter Emmanuel Kenning is joined by colleague Liz McMahon and director of Spotlight Communications, Lesley Russell to discuss the top insurance stories.
FSA chief claims radical approach needed to force change
The current regulator’s chief executive Hector Sants has stated that, over the past eight years, there has been “little or no evidence that any significant change has occurred in the attitude of the financial industry towards its customers”.
FCA will not prevent all firms from failing, says Cole
Margaret Cole, the Financial Services Authority’s (FSA) director of enforcement and financial crime, has spoken at the regulator’s conference on the forthcoming Financial Conduct Authority’s (FCA) approach to regulation.
FCA needs quantum leap to achieve goals
The new Financial Conduct Authority (FCA) must deliver a quantum leap in effective regulation, according to Kay Blair, vice chair of the Financial Services Consumer Panel.
FCA to be tougher and bolder
The Financial Services Authority (FSA) has declared that its successor body, charged with conduct and markets regulation from the end of 2012, will be tougher, bolder and more engaged with consumers.
Lord Turner calls on Parliament to pick up the pace
The Financial services Authority (FSA) chairman, Lord Turner, has called on Parliament to ensure the legislation necessary for a smooth regulatory transition is in place in time for the FSA to hand over to the new bodies.
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.
