by Kenneth Underhill | Apr 24, 2024 | Insurers, Lloyd's, Operational Resilience, Prudential Regulation Authority, Risk, Senior Managers and Certification Regime, Solvency
The PRA published its business plan earlier in April and as with the FCA, there is unsurprisingly quite a significant focus on how it will deliver its new growth objectives now these are formally in place. As Sam Woods says in the foreword, it will be the first full...
by Niki Underwood | Oct 17, 2023 | Compliance, Consumer Duty, Culture, FCA, HR, Prudential Regulation Authority, Risk, Senior Managers and Certification Regime
In September the PRA and FCA released co-ordinated Consultation Papers on Diversity & Inclusivity in the Financial Services sector, building on the previous Discussion Paper from July 2021. Progress has been slow, albeit the issue is one that continues to receive...
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 Claire King | Jan 10, 2023 | FCA, Prudential Regulation Authority, Senior Managers and Certification Regime, Solvency
The Edinburgh Reforms, launched by the government in December 2022, represent an extensive package of regulatory reforms to the UK Financial Services sector, aimed to support the government’s ambitions for the UK to be the “world’s most innovative and competitive...
by Kenneth Underhill | Nov 9, 2020 | Culture, FCA, Governance, Pricing, Product Governance, Senior Managers and Certification Regime, Vulnerable customers
Amongst many new obligations placed on insurers and insurance brokers by the FCA, as it grapples with meeting its objective of preventing harm to consumers resulting from the coronavirus pandemic, is a requirement that product manufacturers review the value that their...
by Kenneth Underhill | Oct 15, 2020 | FCA, Pricing, Product Governance, Senior Managers and Certification Regime
Price walking has dominated the headlines as the FCA, CMA and Citizens Advice have all talked about the risks of consumer harm arising from ‘general insurance pricing practices’ that have often treated new and existing customers very differently. The reality of the...
