Compliance
Moorhouse Group working with FCA over sales processes
Moorhouse Group is making changes to its compliance processes following a Financial Conduct Authority investigation into its sales practices.
GI firms urged to adopt whistleblowing policies as FCA review is mooted
Issue brought into spotlight following release of CII ‘Speaking Up’ guide
Increased regulation is no excuse for service decline, brokers tell insurers
Survey shows insurers and brokers disagree over reason for customer service drop
73% of brokers say regulation hitting customer service
Almost three quarters of intermediaries have warned that the weight of regulation is damaging insurers' customer service, in a survey conducted by EDM Group, Post can reveal.
UK General sells compliance outfit UKGI to Thistle Initiatives
UK General has reached an agreement to sell its compliance consultancy business UK General Insurance to financial services firm Thistle Initiatives.
FCA to relocate to Olympic Park in 2018
The Financial Conduct Authority is to relocate from its headquarters in Canary Wharf to a new business district at the former Olympic Park in Stratford.
Only 2% of insurers ready to implement Pillar 3
A PWC poll has found 68% of insurers are less than halfway through the Pillar 3 reporting process for Solvency II.
FCA must pursue ‘big boys’ first on add-ons
A compliance expert is calling for the Financial Conduct Authority to pursue the “big boys” first on general insurance add-ons mis-selling and demand retrospective action where mis-selling has taken place.
Salaries rise 30% for insurance-focused compliance professionals
Compliance, risk and audit professionals working in the insurance sector will earn up to 30% more in 2014 as a result of a shift in regulatory expectations and evolving businesses strategies.
Compliance and in-house teams bolstered by Broker Network
Broker Network has bolstered its in-house broker development managers team by recruiting four new starters ahead of plans to draft in three more BDMs during the course of the year.
FCA urged to probe premium finance arrangements after TCF accusations
Whistleblower says ‘nearly all’ big brokers are shortchanging their customers
Howden compliance chief calls for simple approach to FCA visits
Brokers should not volunteer additional information on top of what is initially requested when faced with a visit by the Financial Conduct Authority, says Howden's head of risk and compliance.
Insurers urged to stay vigilant on avoiding sanctions violations
Accountancy firm Moore Stephens is urging insurers to remain vigilant in avoiding sanctions violations or risk facing penalties after positive signals that international sanctions on Iran are relaxing.
FCA will push for brokers to have ‘house in order’, UKGI predicts
Compliance consultancy UKGI predicts 2014 will see the conduct regulator pressuring the broking community to “put its house in order” before insisting on fresh regulations.
UKGI named preferred supplier for Aim Core Protect
UKGI has been appointed preferred supplier by wholesale broker and trading platform provider, Aim Core Protect.
View from the Top: Don’t let data leave you behind
So, after my 20-month holiday, what’s new in the market? Well, you are certainly all a bit greyer around the temples.
Biba partners with UKGI on members’ helpline
The British Insurance Brokers’ Association is to work with compliance consultancy UKGI to provide compliance helpline facilities to its members.
Airmic 2013: Non-disclosure tops buyer concerns
The possibility that claims may not be paid due to innocent non-disclosure is the top concern of Airmic members, research has revealed.
Over 50% of insurers lack proper conduct risk strategy
More than half of insurers do not have a clearly defined conduct risk strategy in place, a PWC survey found.
FCA viewed as re-brand exercise by brokers surveyed by UKGI
The Financial Conduct Authority is seen as little more than a re-branding exercise, as opposed to a change in regulatory focus, according to brokers surveyed by compliance consultancy UKGI.
ABI welcomes opportunity to reshape regulator-industry relationship
The Association of British Insurers has welcomed the opportunity to reshape the relationship between the industry and its regulators as the Financial Services Authority is due to be replaced by two new regulatory bodies.
Wheatley tells firms ‘no need to be afraid of the FCA’
Martin Wheatley, chief executive of the Financial Conduct Authority, has vowed to take a less aggressive tone than its predecessor in its dealings with regulated firms.
Hood Group makes Milbourne risk and compliance director
The Hood Group has appointed Sheila Milbourne to the role of risk and compliance director.
BWise expands reach with Bangkok office
Governance, risk management and compliance software firm BWise has opened a regional office in Bangkok, Thailand.