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
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.
We have been advised by the FCA that they intend to issue yet another Covid-19 survey shortly. This is the FCA statement: “Many of you will be aware that we issued the first phase of the Covid-19 Impact Survey in June 2020, covering around 13,000 firms across 15 Supervision portfolios (Tranche 1), and then rolled […]
The FCA has confirmed in PS21/4 that it is proceeding with its previously stated intention to extend the requirement to submit REP-CRIM, the annual financial crime report. Firms conducting the following activities, regardless of turnover, will have to submit the report: advising on investments, where the firm holds client money or assets arranging (bringing about) […]
This fourth in a series of articles on FG 21/3 takes a closer look at the guidance around pre-advice information for clients enquiring about pension transfer advice. The FCA calls this ‘triage’, which derives from the French word trier which means to sort or to select. This label is really a misnomer as pre-advice information […]
Well, 21 March has come and gone and, while it is presumed that the EU’s new disclosure rules around sustainable investments might have gone live on that date as scheduled, nothing much happened in the UK that day. At least not much related to ESG, if you ignore the apparently ever-increasing number of articles on […]
Financial Resilience Survey – General Insurance
Michael Senior Compliance FCA
The FCA Financial Resilience team has clarified the intention behind the data requested in their survey in relation to Question 2b. Question 2b, Please provide how much of your cash inflows advised in 2, is ‘contractually committed’. The online FAQ, gives the guidance … “We want to identify how much of your estimated cash inflow […]