by Kenneth Underhill | Apr 25, 2023 | Consumer Duty, Culture, Environmental Social and Governance, FCA, Financial Crime, Operational Resilience, Product Governance, Senior Managers and Certification Regime, Vulnerable customers
The FCA Business Plan sets the regulatory agenda for regulated insurance firms in the coming 12 months. Released on 5th April 2023, the current plan has a strong focus on the way the FCA uses the Threshold Conditions to instil confidence in consumers. For 2023/4 there...
by Nicky Hasler | Dec 14, 2021 | FCA, Financial Crime, Risk
As we approach the end of a turbulent 2021, Insurers, brokers and MGAs are facing ‘work from home’ guidance again. The past 20 months have provided firms with unprecedented challenges and it can be all to easy to overlook day-to-day regulatory requirements when so...
by Nicky Hasler | Jul 5, 2021 | FCA, Financial Crime, Risk
The Insurance sector may be forgiven for not considering itself a direct target for individuals or entities looking to evade their tax responsibilities. The rules and requirements have traditionally focused on banking which is understandable when this sector has often...
by Nicky Hasler | Nov 11, 2020 | Financial Crime
Preventing Financial Crime isn’t a new phenomenon, it’s been a global problem for decades. As criminals become increasingly sophisticated, their web of ‘Shell’ Companies, offshore operations and fictitious addresses become more established. The global banking...
by Nicky Hasler | May 4, 2020 | Coronavirus, FCA, Financial Crime, Governance, Operational Resilience
When we think of Financial Crime, many of us will think of money laundering, fraud, tax havens and perhaps complex organisational structures to disguise the true origin of wealth. Financial crime is not new and there have been many examples of unscrupulous individuals...
by Jason Jones | Oct 11, 2019 | FCA, Financial Crime, ICSR News
The practical challenges of sanctions and KYC screening in the insurance sector: how to set up an effective and efficient solution Registration closed To meet regulatory expectations and manage business risk most insurance firms will consider using a sanctions and KYC...
