Cobra Network Compliance

REP025 Appointed Representative reporting guidance

In line with the Cobra Network guidance issued in December 2022, the Financial Conduct Authority (FCA) is collecting data on revenue and complaints from principal firms in respect of their Appointed R...

Multi-Occupancy Building Insurance

Following the Financial Conduct Authority’s (FCA) consultation on multi-occupancy buildings insurance, the FCA have now issued their policy statement and final rules. Attached is a summary of the poli...

FCA Regulatory Priorities 2023/2025

The Financial Conduct Authority (FCA) have released a Dear CEO letter giving firms insight into their concerns and advising firms of the areas they will be looking at over the next two years. Please c...

Consultation on rule changes to replace EU repealed law

The FCA have issued a consultation paper which is relevant to all firms involved in insurance activities. The FCA are asking for feedback on their proposals by 9 October 2023. Details of how to feedba...

Supporting customers in financial difficulty – new guidance

In July 2023 the FCA issued new finalised insurance guidance on supporting customers in financial difficulty which replaces the guidance issued in November 2020 in relation to customers in financial d...

Cross Cutting Rule – Foreseeable Harm

The second cross-cutting rule is that a firm must avoid causing foreseeable harm to retail customers. Foreseeable harm is a key concept in the law of negligence, such as misstatements and misinformati...

Breaches

Firms need to ensure that their systems and controls identify breaches.  Alongside the MI and monitoring it is important that firms have an open and transparent culture so that breaches are discl...

Inside FCA Podcast: What is the price and value outcome?

This is a useful overview by the Financial Conduct Authority into their expectations in respect of the Price and Value outcome under the new Consumer Duty. Please note that because the Product Governa...

Changes to the Appointed Representative (AR) Regime – effective from 8th December 2022

If you have any AR’s or are planning to appoint an AR, there are some changes to the FCA Rules and Guidance that you need to be aware of. These changes come into effect from the 8th of December 2022. ...