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.
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.
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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 […]