Financial Services Authority (FSA)
Staff 'haemorrhaging' could leave FSA unable to cope with reform
Doubts have been raised over whether the Financial Services Authority (FSA) has the resource to cope with impending regulatory reform as the consultation period for the plans came to an end.
Poor insurer service feeds existence of MGAs
Consistently poor insurer service levels have allowed managing general agents (MGAs) to cement their place in the market, according to one of the latest entrants to the sector.
Banks and FSA wrangle over new measures for PPI customers
The banking sector has locked legal horns with the Financial Services Authority (FSA) over the handling of payment protection insurance (PPI) claims.
Reportage - Future of regulation: Predicting the future
Everyone is aware the FSA is on its way out but what is less certain is how the new regulatory structure will operate. Liz McMahon explores what brokers can expect in the medium to long-term future.
FSA bans show 'unacceptable behaviour' will not be tolerated
In its latest move in a series of crackdowns the Financial Services Authority (FSA) has banned a broker for attempting to overcharge a client and has cancelled the regulatory permission of two other brokerages and an underwriting agency.
Legal: Social media do’s and don’ts
Facebook, Twitter and LinkedIn are valid tools for public-facing communications, though their ubiquity and ease of use present some dangers, writes Emma Bate.
UK personal motor market to remain unprofitable for further five years
The UK personal motor market will remain unprofitable until at least 2015, according to a new survey of leading UK insurers by Towers Watson.
IIB asks if regulator sees brokers as "soft touch"
The Institute of Insurance Brokers (IIB) has criticised the HM Treasury’s Consultation Paper for not putting forward any firm ideas on the future regulation of the insurance broking sector.
FSA revokes regulatory permission for underwriting agency
The Financial Services Authority (FSA) issued a final notice dated 19 October, 2010, to Essex-based Ferryman Underwriting Agency, about a decision to cancel the permission granted to carry on regulated activities.
IUA warns of insurance regulation challenge
A lack of qualified staff threatens to undermine government plans to reform financial regulation in the UK, the International Underwriting Association (IUA)has warned.
Biba calls for "appropriate and proportionate" regulation
The British Insurance Brokers’ Association (Biba) has formally responded to the HM Treasury consultation paper on a new approach to regulation.
Entertainment broker banned for £89,000 overcharge attempt
The Financial Services Authority has banned Paul Cable, director of Media and Entertainment Insurance Services, from acting as an FSA approved person for at least two years for attempting to overcharge a client by £89,000.
FSA contests judicial review of PPI
The Financial Services Authority (FSA) has said it will contest the British Bankers’ Association’s (BBA) judicial review of new payment protection insurance (PPI) complaints handling measures.
LMA warns on proposed regulatory system
The Lloyd’s Market Association has argued that the proposed regulatory system for the UK is being created around the banks which will make it over-engineered, unsuitable and unjustifiably costly for the general insurance industry with Lloyd’s brokers…
Opinion: Editor's comment
We're all fully aware the Financial Services Authority (FSA) is getting tough. Both the trade press and the business pages of the national press are full of stories about the regulator fining and banning financial services practitioners. And this is very…
Broker's balatant misuse of client money leads to FSA lifetime ban
The Financial Services Authority (FSA) slapped a lifetime ban on broker David Marriott after he used clients' funds to support his businesses and to finance bonuses, salary increases and new cars.
FSA plans to bump up max compensation to £150,000
The Financial Services Authority (FSA) has proposed an increase in the maximum compensation which may be awarded by the Financial Ombudsman Service (FOS) from £100,000 to £150,000.
FSA revokes regulatory permission for two brokers
The Financial Services Authority (FSA) has cancelled regulatory permission for Cheshire-based Right Deal Insurance Services and Kent-based A2b Commercial Insurance Services.
JLT announces name change
Jardine Lloyd Thompson Group has announced the forthcoming change of name of Jardine Lloyd Thompson Limited (JLTL) to JLT Specialty Limited.
Opportunity for brokers to slash their FSCS contribution
Brokers labouring under the demands of this year's Financial Services Compensation Scheme levy may be given the chance to resubmit their data and dramatically cut their contribution.
Polly C - the hottest insurance gossip
A healthy dose of irony is good for the soul and Polly found her fix in Zurich's misfortunes this month.
Insurers' PPI responsibility: Accepting responsibility
Against the backdrop of the recent FSCS levy increases, Martin Friel asks what responsibility insurers have for making sure products sold on their behalf are done so properly.
Your letters: Open letter to the ABI, FSA and FOS
We have it all: human rights, data protection, statutory obligations, regulatory regimes, codes of conduct, corporate governance, rules of engagement, terms of reference, standards for this, standards for that and, ah yes, let's not forget, 'complaints…