Compliance & Regulation
Knowles and Timpson: Loaded premiums incompatible with FCA Fair Value and Consumer Duty
Two highly respected figures within the protection market have told Health & Protection they believe the use of loaded premiums does not meet the Financial Conduct Authority’s (FCA) Fair Value and proposed...
Read moreJeynes: Protection sector being better without non-advised firms is ‘biggest myth’
The idea that all broker firms not conducting advised sales are bad is a myth and there should always be a place for them in the protection sector, according to Phil Jeynes,...
Read moreBaigrie: Unadvised telesales firms eroding trust in protection sector
Unadvised telesales firms are breaking trust in the protection sector by selling insurance to unwitting customers, LifeSearch founder Tom Baigrie has claimed. Baigrie, who is also chairman of the full advice firm...
Read moreAMI chief slams mortgage brokers’ protection approach
Association of Mortgage Intermediaries (AMI) chief executive Robert Sinclair has slammed mortgage advisers for how they approach conversations about protection and criticised them for being too risk and compliance heavy. Speaking at...
Read moreAdvisers must engage with ‘unfair’ FSCS compensation funding consultation
Health and protection advisers are being urged to engage with the Financial Conduct Authority (FCA) consultation on changes to the “unfair” funding of the Financial Services Compensation Scheme (FSCS). Branko Bjelobaba, principal...
Read moreFCA consumer duty focuses on advisers empowering customers and avoiding harms
The Financial Conduct Authority (FCA) has shed further light on its new consumer duty which will ensure firms support and empower customers to make good financial decisions and avoid foreseeable harm at...
Read moreFCA seeks views on improvements to FSCS funding model
The Financial Conduct Authority is seeking views on possible improvements to how the Financial Services Compensation Scheme is funded as part of a review of its compensation framework. This morning the FCA...
Read moreARs trigger three times more insurance complaints than DA firms
Principal firms and their appointed representatives (ARs) are responsible for three times more complaints regarding health, protection and other general insurance products than directly authorised firms. The figures came from data published...
Read moreFCA expects 10% of appointed representatives to exit
The Financial Conduct Authority (FCA) expects around 10% of authorised representatives (ARs) to leave the financial services industry following its crackdown on the sector. With the general insurance and protection market one...
Read moreFCA proposes tighter AR controls as complaints up to 400% higher than DAs
The Financial Conduct Authority (FCA) is proposing tighter controls and greater data sharing on appointed representative (AR) firms to cut complaints and consumer harm. The regulator revealed complaint levels against ARs were...
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