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Tag Archives: FCA

Posted in Regulatory and legislative updates, UK

UK: PPI Update – November 2018

FCA publishes final guidance on regular premium PPI complaints and new consultation on mailing rules On 7 November 2018, the FCA released a consultation paper (CP18/33) publishing final guidance clarifying its expectations about the handling of mis-selling complaints relating to regular premium PPI, and proposing new mailing rules requiring firms to write to previously rejected

Posted in Regulatory and legislative updates, UK

UK: Corporate Insurance Newsletter – October 2018

The Hogan Lovells’ Corporate Insurance Newsletter for October has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: Latest Brexit related consultation papers and other material from the Bank of England, PRA and FCA The FCA

Posted in Regulatory and legislative updates, UK

UK: The FCA consults on new SM&CR guidance on statements of responsibilities and responsibilities maps

On 11 October 2018, the FCA published a guidance consultation for FCA-authorised firms on preparing statements of responsibilities and responsibilities maps under the Senior Managers and Certification Regime (SM&CR). Under the SM&CR, which will apply to all FCA authorised firms from 9 December 2019, firms will be required to prepare statements of responsibilities for each

Posted in Regulatory and legislative updates, UK

UK: Corporate Insurance Newsletter – September 2018

The Hogan Lovells’ Corporate Insurance Newsletter for September has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: Publication of a speech by David Rule at the PRA about current issues in insurance supervision. A new

Posted in European Union, Regulatory and legislative updates, UK

Addressing Implementation: Messages from the FCA Workshop on its approach to consumers

The FCA held a workshop last week on Customers in Vulnerable Circumstances which focused on its approach to ensuring inclusive and fair treatment of vulnerable consumers in the financial services industry. Much of the focus draws from its Approach to Consumers published in July 2018 (see our previous FISion blog here). The FCA said? The

Posted in Regulatory and legislative updates, UK

UK: Corporate Insurance Newsletter – August 2018

The Hogan Lovells’ Corporate Insurance Newsletter for August has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: Publication by the Government of various Brexit related papers including guidance from HM Treasury on preparation for a

Posted in Regulatory and legislative updates, UK

UK: Corporate Insurance Newsletter – July 2018

The Hogan Lovells’ Corporate Insurance Newsletter for July has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: Publication by the FCA and PRA of new policy statements and consultation papers relating to the implementation of

Posted in Regulatory and legislative updates, UK

UK: The FCA and the PRA have released near final rules on the Senior Managers and Certification Regime

On 4 July 2018, the FCA and the PRA released near final rules on the extension of the Senior Managers and Certification Regime (SMCR). While the majority of the rules remain the same, the regulators have made a few changes and have also provided a significant amount of extra guidance to firms who will be

Posted in Regulatory and legislative updates, UK

UK: Corporate Insurance Newsletter – June 2018

The Hogan Lovells’ Corporate Insurance Newsletter for June has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: Papers published by HM Treasury, the Bank of England, FCA and EIOPA about preparing for Brexit Publication by

Posted in Regulatory and legislative updates, UK

UK: Corporate Insurance Newsletter – May 2018

The Hogan Lovells’ Corporate Insurance Newsletter for May has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: Publication of the FCA’s finalised guidance on its approach to Part VII transfers of insurance business Publication by the

Posted in Regulatory and legislative updates, UK

UK: Part VII insurance transfers of business: FCA publishes final guidance

Following a consultation from May to August 2017, the Financial Conduct Authority has issued its long awaited final guidance on its approach to the review of insurance business transfers under Part VII of the Financial Services and Markets Act 2000.  Although the Prudential Regulation Authority takes the lead on managing the process of a Part

Posted in Regulatory and legislative updates, UK

UK: Corporate Insurance Newsletter – April 2018

The Hogan Lovells’ Corporate Insurance Newsletter for April has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: A number of PRA consultation papers on Solvency II reporting matters The FCA and PRA business plans for

Posted in Regulatory and legislative updates, UK

UK: Corporate Insurance Newsletter – March 2018

The Hogan Lovells’ Corporate Insurance Newsletter for March has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: A number of items related to Brexit, including papers from the PRA and FCA, Theresa May’s speech and

Posted in Regulatory and legislative updates, UK

UK: Corporate Insurance Newsletter – February 2018

The Hogan Lovells’ Corporate Insurance Newsletter for February has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: Regulators’ response to the delay of the application date of the Insurance Distribution Directive The PRA’s final  response

Posted in Regulatory and legislative updates, UK

UK: HM Treasury announces date on which SM&CR will apply to insurers

On 29 January 2018, HM Treasury announced that the Senior Managers & Certification Regime (the “SM&CR”) will apply to insurers from 10 December 2018. This means that insurers have less than a year to ensure compliance with the new requirements. The SM&CR builds on the existing accountability requirements applying to insurers, namely the Solvency II

Posted in Regulatory and legislative updates, UK

Corporate Insurance Newsletter – December 2017

The Hogan Lovells’ Corporate Insurance Newsletter for December has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: The statements and announcements from the FCA,PRA and HM Treasury about preparations for the UK’s withdrawal from the EU

Posted in Regulatory and legislative updates, UK

UK: Corporate Insurance Newsletter – November 2017

The Hogan Lovells’ Corporate Insurance Newsletter for November  has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: Launch of the FCA’s market study of the wholesale insurance brokers market Publication by the FCA and PRA of

Posted in Regulatory and legislative updates, UK

UK: Launch of FCA Wholesale Insurance Broker Market Study

The FCA has yesterday launched a market study into wholesale insurance broking practices.  The FCA has published Terms of Reference for the study, which are discussed below.  The FCA’s 2017 business plan (published in April of this year) signalled the FCA’s plans to undertake this market study (previously discussed on this blog here). The FCA

Posted in Regulatory and legislative updates, UK

UK: Corporate Insurance Newsletter – October 2017

The Hogan Lovells’ Corporate Insurance Newsletter for  October  has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: The publication of the results of the Treasury Select Committee’s inquiry into the implementation of Solvency II The

Posted in Regulatory and legislative updates, UK

UK: Corporate Insurance Newsletter – July 2017

The Hogan Lovells’ Corporate Insurance Newsletter for July has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: Publication of final drafts of regulations on insurance linked securities PRA’s policy statements on dealing with a market

Posted in Regulatory and legislative updates, UK

UK: Corporate Insurance Newsletter – June 2017

The Hogan Lovells’ Corporate Insurance Newsletter for June has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: The Queen’s Speech – the Government announces a number of new Bills relevant to insurers The FCA call for

Posted in Regulatory and legislative updates, UK

UK: FCA call for input on access to insurance

On 20 June 2017, the Financial Conduct Authority (“FCA“) published a Call for Input inviting firms (amongst other stakeholders) to submit their views on the challenges they face in providing travel insurance to consumers who have (or have had) cancer (“Relevant Consumers“) by 15 September 2017. The issue In May 2016 the FCA published its

Posted in Regulatory and legislative updates, UK

UK: Corporate Insurance Newsletter – May 2017

The Hogan Lovells’ Corporate Insurance Newsletter for May has been published.  This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants.  In this issue, amongst other items, we cover: The FCA’s final rules on implementing information prompts in the annuity market The FCA’s consultation on proposed guidance on

Posted in Regulatory and legislative updates, UK

UK: FCA consults on its approach to reviewing Part VII transfers of insurance business

On Monday 15 May 2017 the Financial Conduct Authority (FCA) published a consultation paper on new proposed guidance on its approach to reviewing applications to transfer insurance business under Part VII of the Financial Services and Markets Act 2000 (FSMA) (a Part VII Transfer).  Comments are requested by 15 August 2017. In accordance with the