Regulation
FCA suggests FSCS management levy to drop 7.4%
The Financial Conduct Authority is consulting on the Financial Services Compensation Scheme's proposed management levy for the next financial year which would see an overall 7.4% reduction in expenses.
Solvency II Delegated Acts brought into force
The Solvency II Delegated Acts were entered into force on 18 January in a move Insurance Europe has called an important step forward in the implementation of the regulatory regime.
CMA draft order obligations criticised for duplicating existing regulation
Industry players are fearful draft Competition and Markets Authority motor insurance obligations conflict with existing conduct regulation amid concerns the watchdog is not giving firms enough time to implement its suggested reforms.
Insurance trade bodies to meet with regulators on CMA draft orders
The British Insurance Brokers' Association and the Association of British Insurers are to meet with the Financial Conduct Authority and the Competition and Markets Authority in the coming weeks to ensure obligations from the CMA private motor…
CMA publishes draft order from motor market report
The Competition and Markets Authority is consulting on a draft order explaining how changes resulting from its investigation into the private motor insurance market will be introduced.
Merry Christmas from Post
Incisive Media's offices are now closed until 2 January 2015 for the festive period.
Insolvency Service investigating conduct of Drive Assist directors
The Insolvency Service is believed to be conducting an investigation into the behaviour and transactions of the directors of credit hire firm Drive Assist, according to the company’s liquidator Zolfo Cooper.
Plowman appointed chair of Older Drivers Task Force, which will seek evidence in New Year
The Road Safety Foundation has confirmed that its trustee and former civil servant John Plowman will chair the Older Drivers Task Force.
Government to make FCA and PRA more accountable
Following a review the government has published a number of recommendations to ensure the way the financial regulators make enforcement decisions continues to be fair, transparent and efficient.
AM Best dismisses need for rating action on insurers reliant on TRIPRA
The US federal terrorism programme is to expire on 31 December due to the failure of the US Senate to reach an agreement to extend the Terrorism Risk Insurance Protection Reauthorization Act before the adjournment of congress.
North of the Border: The ramifications of Smith
Following the Scottish referendum, the UK government established the cross-party Smith Commission to make proposals for devolution of further powers to the Scottish Parliament. These recommendations, if implemented, will see yet further differences…
FCA reputation diminished after damning Davis report
The Financial Conduct Authority has been left "diminished" by a damning report into its handling of publicity around a life insurance thematic review, according to certain market observers.
Questgates to introduce minimum standard for motor investigators
Loss adjuster Questgates has unveiled plans to introduce a minimum professional standard for those operating within its motor investigation team by the first quarter of next year.
FCA tightens complaint handling procedures
Financial services firms will no longer be able to use premium rate telephone numbers for customers as part of a series of proposals from the Financial Conduct Authority on changes to the rules on complaint handling and post-sale telephone calls.
FCA turns focus to competition in GAP market
The Financial Conduct Authority is proposing changes to promote competition in the £160m guaranteed asset protection insurance market.
MPs plotting to summon outgoing FCA execs
Two departing executives from the Financial Conduct Authority are set to be summoned to appear in front of the Treasury Select Committee over the mis-handling of changes to life insurance regulation.
Regulated firms to pay for £3.8m FCA report
The cost of the investigation into the Financial Conduct Authority's handling of publicity around a proposed life insurance thematic review is to be borne by the firms it regulates.
FCA apologises after life insurance probe
The Financial Conduct Authority has formally apologised following the publication of a damning investigation into its handling of a proposed thematic review into life insurance.
CMA takes Xchanging’s Agencyport purchase to in-depth probe
The Competition and Markets Authority has referred the acquisition of Agencyport by Xchanging for an in-depth investigation after the technology firm failed to respond to a request for reassurance.
Trade bodies fight for re-worded clauses to be restored to Insurance Bill
Biba and Airmic address House of Lords' committee in attempt to restore axed clauses
FCA reportedly axing bonuses over insurance scandal
The Financial Conduct Authority is set to cancel bonuses for several of its senior executives following leaks over an investigation into the insurance sector, according to the Financial Times.
FCA's Adamson exits regulator amid structural overhaul
Financial Conduct Authority supervision director Clive Adamson is to leave the regulator as part of wider structural changes within the organisation.
FCA blocks Cardiff broker
The Financial Conduct Authority has cancelled permissions for a Cardiff-based insurance broker over concerns around filing of returns.
CMA threatens Xchanging with in-depth competition probe
The Competition and Markets Authority has pledged to undertake an in-depth investigation of Xchanging’s acquisition of Agencyport unless the firm can address concerns of the deal’s impact on competition.