The FCA has issued an addendum that delays the implementation of the rules relating to premium finance disclosure from 01 October 2021 until 01 January 2022.
The updated article can be found here https:/ps21_5-general-insurance-pricing-practices-market-study
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We have received the following from the FCA: “The FCA will regulate the sale and administration of pre-paid funeral plans from July 2022. We have today published: Our Policy Statement which sets out the majority of our final rules. A Consultation Paper which covers proposed rules on resolution and access to the Financial Services Compensation […]
In recent months, firms have been asking us about the process for managing drawdown plans. What do the rules require? Is a suitability letter necessary for every withdrawal? And a few other aspects. We take the opportunity here to share our views around this topic. For the sake of clarity, this is about the rules […]
Following on from a draft decision in February, the European Commission has now granted the UK access to EU data. The commission has formally recognised that UK data protection rules are “adequate” and that personal data can therefore flow in both directions between the EU to the UK. This removes one more difficulty for UK […]
The FCA has announced details of the forthcoming credit broking survey. The text of the announcement is shown below. “Further to our email in May, we wanted to let you know that our pilot survey for 300 firms finished in June. As planned, the survey will now be sent to all remaining firms that […]
Dear CEO General Insurance Intermediaries Client Money Arrangements
Michael Senior Compliance FCA, protected, protection, transfer
Following a series of financial resilience surveys and a letter issued in September last year the FCA has issued a Dear CEO letter about adequate client money arrangements, that can be accessed here. The FCA is keen to ensure client money is adequately protected, that firms follow the CASS 5 rules and review arrangement […]