Compliance & Regulation
FCA warns consumers not to buy products from pair of funeral plan providers
The Financial Conduct Authority (FCA) has warned consumers not to purchase products from two funeral plan providers. The warning comes ahead of a change in the law which brings funeral plans under...
Read moreRichard Lloyd starts work as FCA interim chairman
Richard Lloyd has started his new role as interim chairman of the Financial Conduct Authority. Lloyd's appointment was announced on 4 February this year. Previously the FCA’s senior independent director, Lloyd (pictured)...
Read moreActuaries warn government plan could ‘undermine profession’ and lower standards
Actuaries are warning that proposed government regulations for the sector could “undermine the profession” and “lead to a lowering of standards”. The Institute and Faculty of Actuaries (IFoA) also urged the government...
Read moreCQC suspends East London private GP surgery
An East London private GP surgery has been suspended by the Care Quality Commission (CQC) for exposing patients to risk of avoidable harm. During the CQC's regular inspection of the Northway Clinic...
Read moreAre Covid exclusions fair value? – FCA
Insurers, distributors and other financial services providers have been warned by the industry watchdog to ask themselves if products with Covid exclusions or other significant restrictions offer customers fair value. And the...
Read moreFCA pressures insurers over adviser commission levels
The Financial Conduct Authority (FCA) has told insurers they should be examining the amount of commission paid as part of the distribution process when complying with the incoming Consumer Duty. The issue...
Read moreFOS commits to not applying Consumer Duty retrospectively
The Financial Ombudsman Service (FOS) has reassured firms that it will not apply the incoming Consumer Duty rules retrospectively. This is according to Simon Rawle, ombudsman leader at the FOS who was...
Read moreFears about Consumer Duty implementation speed have been ‘well heard’ – FCA
The Financial Conduct Authority (FCA) has said concerns raised by the industry about the speed of implementation of its incoming Consumer Duty have been “well heard”. While the regulator acknowledged many communications...
Read moreFCA argues Consumer Duty goes ‘significantly beyond TCF’ and warns insurance market ‘don’t put your feet up’
The Financial Conduct Authority (FCA) has defended its flagship Consumer Duty policy as going ‘significantly beyond’ Treating Customers Fairly (TCF) as it aims to create a culture shift within the industry. The...
Read moreHealth and protection advisers escape FSCS levy hit as pool fund dropped
Advisers operating in the health and protection insurance and mortgage sectors have escaped the prospect of picking up the massive costs of failures in other parts of the financial services industry. In...
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