Product Governance multi-firm review by the FCA

29 July 2022 Michael SeniorCompliance

The FCA conducted a multi-firm review to assess whether manufacturers of general insurance and pure protection products are undertaking the necessary work to comply with PROD 4 of the FCA Handbook.

The FCA will email a letter to all firms with general insurance permissions, and those that manufacture or distribute pure protection products by the end of July 2022. This letter will explain the findings along with the actions they expect firms to take.

We have seen some quite lengthy questionnaires from manufacturers that may well take a considerable amount of time to complete.

If your firm manufactures or distributes general insurance and/or pure protection products, and you have not received the letter by the end of July, please contact the FCA at firm.queries@fca.org.uk.

Don’t forget to check Our View about this article and the Actions Required By You

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

Our View

For information.

Action Required By You

If you have not received the email contact the FCA at the address shown.

SUIT - Beautiful Reports

CREATE BEAUTIFUL
SUITABILITY
REPORTS

TRY IT FOR FREE

SUIT - Complete Control

TAKE BACK
CONTROL OF YOUR
SUITABILITY REPORT
PRODUCTION

TRY IT FOR FREE

SUIT - Comp confidence

SUITABILITY
REPORTS
WITH FULL
COMPLIANCE
CONFIDENCE

TRY IT FOR FREE

About the Author

Contact Us

Brought to you by

Explore more articles in this category

Consumer Credit: FCA Deadline & Do I Need Permissions?

Steve Bailey Compliance 2014, FCA, Mortgage

The deadline for full transition to the FCA is nearly upon us. Have you applied and are you confident of the requirements?

26 March 2014

Budget Changes 2014

David Anderson Suitability 2014, Budget, Update

As I am sure you will be aware the chancellor’s budget last week throws a few curve balls for the financial service industry to get to grips with. However, in true ATEB style we are getting ahead of the game and will be pushing out updates later this evening in readiness for some of the […]