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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In its June quarterly consultation paper, the FCA announced proposals to make amendments to the Handbook relating to its powers to vary or cancel the permissions of firms authorised under Part 4A of the Financial Services and Markets Act 2000 (FSMA) to carry on FCA regulated activities. In the Financial Services Act 2021, which has […]
It will be a surprise to few in our industry that those firms involved in defined benefit pension transfer business have been under increasingly intense scrutiny over the past 18-24 months. ATEB has been engaged by many of those firms to assist them in dealing with the Regulator’s requirements for information, sample file checking, full […]
Following a series of market studies and guidance papers, that can all be accessed here; the FCA issued a policy statement to implement rules to ensure consumers receive fair value in home and motor insurance markets. While we will have all seen the headline message that “renewing home and motor insurance consumers are quoted prices […]
Abridged advice – how is it going so far?
Alistair MacDougall Compliance 2015, 2018, 2020, 2021, abridged, Drawdown, FCA, Pension, Pension Transfer, PI, transfer
Based on data and live visits to firms during the period from April 2015 to rule changes in 2018 and 2020, the FCA believed that far too high a proportion of clients were being recommended to transfer safeguarded benefits. This was predicated on the longstanding rule which stated: “… a firm should start by assuming […]