We have three important reminders for you.
1 April 2017
Significant changes to how general insurance renewals must be processed come into effect on 1 April 2017. See here for more detail.
27 March 2017
Changes to how firms disclose services and costs apply from 27 March 2017. See here for more detail.
26 March 2017
British Summer Time starts. Look out those shorts and don’t forget to put your clocks forward at 1am on the 26th.
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The FCA has advised; 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 this out to a further 9,500 firms in 21 portfolios (Tranche 2) at the beginning of August 2020. […]
PS18/20 introduced rules to raise qualification levels for pension transfer specialists (PTSs) to require them to obtain the same qualification as an investment adviser, alongside the existing PTS qualification. The implementation of these rules was delayed by a year due to coronavirus, but will come into force from 1 October 2021. Any PTSs who are […]
Financial Promotions Case Studies The FCA has produced two short videos of the various products it regulates, and the common mistakes firms make while promoting their products. The videos illustrate the FCA’s expectation and highlight the need for promotions to be clear, fair and not misleading regardless of the media used. These videos, as well […]
The FCA will shortly be asking a sample of Insurers, Price Comparison Websites and Insurance Intermediaries to complete a short survey to assess their preparedness for the introduction of the new rules on general insurance pricing practices as outlined in the recent Policy Statement. The survey will be sent to firms on 16 July 2021 […]
Pension transfer advice – personalised charges
Alistair MacDougall Compliance 2018, 2020, abridged, FCA, Pension, Pension Transfer, PI, transfer
“I’ve started so I’ll finish …”. A well known catchphrase first coined by Magnus Magnusson, the original presenter of the BBC’s long running Mastermind show and continued by his successor, John Humphreys. The FCA seemed to pick up on the concept in the pension transfer rules that came into force in April 2018. If the […]