Financial Services Authority (FSA)
Regulator puts TCF on the backburner
The Financial Services Authority (FSA) has cancelled its programme of regional workshops on treating customers fairly to concentrate its resources on the move to the new regulatory restructure and the RDR.
FSA chiefs claimed over £60K in expenses last year
Financial Services Authority (FSA) bosses Hector Sants, Adair Turner and Margaret Cole claimed over £60,000 of expenses in 2010.
Brokers suing clients over contested complaints could breach TCF
Brokers that sue clients for complaining could be in breach of Treating Customer Fairly (TCF) principles.
Insurance companies best of a bad bunch in FSA's complaints framework
Only 51% of insurance companies have nominated an executive responsible for complaints according to research for software firm, Charter UK.
Reid to take advantage of Axa parentage to push for growth
Bluefin CEO Stuart Reid has said the broker will become a much more fundamental part of Axa Commercial, as part of the new strategy.
Biba calls for more intrusive regulation of comparison sites
Comparison sites must be recognised by the regulator as more than just introducers, according to The British Insurance Brokers’ Association (Biba).
Biba healthcare group founder resigns, labelling it a toothless tiger
The British Insurance Brokers’ Association (Biba) healthcare focus group has been dealt a further blow with the resignation of one of its founder members.
New quarterly FOS data indicates PPI complaints set to double
The Financial Ombudsman Service’s (FOS) data for the first quarter of the financial year 2011/2012 has revealed that it received over 81,000 complaints – more than double the number received in the same period last year.
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.
Brokers react to Quinn return
Rumours of Sean Quinn making a return with an offshore insurance vehicle have caused a furore throughout the UK insurance market, with some brokers demanding preventative regulatory action.
UK plc disadvantaged by bribery crackdown
If the FSA pursues firms over bribery it could lead to UK companies losing business abroad
Pointing the finger
What exactly does the FSA do to warrant all the cash it takes from brokers and tax payers? Our anonymous columnist would love to find out
Lawyers issue warnings after Willis’ record £6.9m fine
Following Willis’ record £6.9m anti-bribery fine from the Financial Services Authority (FSA), the legal profession has warned insurance brokers on the need to have and implement relevant policies and procedures.
Willis responds to record £6.9m FSA fine
Insurance broking giant Willis has responded to the Financial Services Authority's (FSA) record breaking £6.895m fine to its subsidiary Willis Limited flagging up that it had been swift to engage with the regulator on the matter.
FSA hits Willis with record anti-bribery fine
The Financial Services Authority (FSA) has fined Willis £6.895m for failings in its anti-bribery and corruption systems and controls.
Law Society survey finds increase in PI renewal difficulties
The Law Society’s Professional Indemnity Insurance (PII) Survey: Renewals 2010 has found that more firms had difficulty renewing their PII in 2010 than in 2009 and more reported an increase in premiums.
IIB calls for FSCS review after 900% levy increase
The Institute of Insurance Brokers (IIB) has presented research to the All Party Parliamentary Group on Insurance and Financial Services (APPGIFS) showing that brokers with an income of £500,000, £1m or £5m have seen their Financial Services Compensation…
Aviva fills commercial director post
Aviva’s UK chief risk officer has been lined up to take over the vacant commercial director role in November.
Two insurance brokers banned by FSA
The Financial Services Authority (FSA) has banned two insurance brokers, Andrew Porter and Alexander Brincat, from working in the financial services industry and withdrawn the permissions of Mr Brincat’s insurance firm Wise Owl Services.
Has the FSA got too much on its plate?
Concerns raised over FSA’s committment of resources to FSCS Review.
A mis-selling disaster
If the PPI protection scandal leaves a bill for £10bn, it could turn into a battle for survival for many brokers, says Tony Cornell
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.