Compliance & Regulation
PRA endorses capital requirement changes for life insurers
The Prudential Regulation Authority (PRA) has issued its backing for reducing the amount of capital which life insurers have to hold to ensure they can pay out for claims. The regulator was...
Read moreTreasury slashes Solvency II rules for life insurers and includes IP in matching
HM Treasury has revealed plans to slash Solvency II requirements for insurers that dictate how much capital they must hold and the types of assets they can use. The proposed Solvency II...
Read more‘We will improve’ on fraud but competition aims will not affect enforcement – FCA
The Financial Conduct Authority (FCA) has pledged that being given a competitiveness objective will not weaken its oversight of the industry. The regulator also agreed with the Treasury Select Committee of MPs...
Read moreFCA’s Mills ‘cautious’ about using fines to fund FSCS levy
Financial Conduct Authority (FCA) executive director for consumers and competition Sheldon Mills says he is “cautious” about using funds gathered from fining firms to pay for regulator or its industry levies. Mills...
Read moreThe Right Mortgage & Protection Network adds vulnerability hub
The Right Mortgage and Protection Network has launched a vulnerability hub to help its advisers tackle difficulties vulnerable consumers have when interacting with financial services. The hub is designed to help advisers...
Read moreAdvisers need two-years to apply Consumer Duty and fears of FOS remain, FCA told
Advisers need two years to implement the Consumer Duty and there are concerns about how the Financial Ombudsman Service (FOS) will oversee the new rules, the Financial Conduct Authority (FCA) has been...
Read moreCQC rates HCRG Care Group Luton outstanding
The Care Quality Commission (CQC) has moved HCRG Care Group Luton's rating up from good to outstanding following an inspection in November. The service, which provides care to people at Capwell Grange...
Read moreAdvisers plan to maintain isolation for Covid-positive staff despite potential early lifting of rules
Advisers will take a cautious approach to Covid-19 infections in their businesses with many planning to maintain staff isolation when they test positive, even if the rules are lifted in England early....
Read moreGDPR changes could ease AI rules for insurers using personal health data
Proposed changes to the general data protection regulation (GDPR) legislation could make artificial intelligence (AI) easier to use when processing health data. This is according to Gareth Rees, senior associate in the...
Read moreRichard Lloyd to takeover as FCA interim chairman
The Financial Conduct Authority (FCA) has appointed Richard Lloyd as interim chairman. Lloyd is the FCA’s senior independent director and will take up the post on 1 June ahead of the appointment...
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