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Archive

FCA publishes Consumer Duty update and blogs

Link(s):Happy 2nd Anniversary Consumer Duty! | LinkedIn(1) From Reflection to action: The Consumer Duty’s impact on insurance | LinkedIn(1) Consumer Duty at two: Progress, partnership, and the path ahead | LinkedInTwo years on: how the Consumer Duty is putting pounds...

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LMA updates its Co-Lead Claims Agreement Guidance

Link(s):InsightsCoLead Binder Claims Market Guidance - Version 2 - Published August 2025.pdfCLCA Guidance Summary - Version 1 - Issued August 2025.pdf Context The LMA’s Delegated Authority Claims Management Group, in partnership with LIIBA members, has updated...

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FCA updates its Supervisory Correspondence web page

Link(s):Supervisory correspondence | FCA Context The FCA has updated its Supervisory Correspondence web page to include a drop-down list of market sectors from which to select relevant Portfolio letters. Key points to note and next actions In the Portfolio letters...

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FCA updates its Attestations web page

Link(s):Attestations | FCANumber of Attestations requested in 2025/26 Q1 (1 April 2025 – 30 June 2025) Context An attestation is a firm's formal statement that it will take, or has taken, an action the FCA requires. The FCA uses attestations as a supervisory tool to...

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FCA publishes its Cyber Coordination Group Insights 2024

Link(s):FCA Cyber Coordination Group Insights 2024 | FCA Context The FCA has published insights from its Cyber Coordination Group (CCG), summarising discussions held throughout 2024 with industry members of the CCG programme.  The FCA has run the CCG programme since...

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FCA publishes its Q2 2025 Whistleblowing data

Link(s):Whistleblowing quarterly data 2025 Q2 | FCA Context The FCA has published its Q2 2025 Whistleblowing data, which shows the number of new whistleblowing reports it received between April and June 2025, and the existing reports closed during this period. Key...

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FOS publishes its Quarterly complaints data Q1 2025/26

Link(s):Financial Ombudsman Service sees a fall in case levels – with complaints at their lowest level for more than a year – Financial Ombudsman serviceQuarterly complaints data: Q1 2025/26 – Financial Ombudsman service Context FOS has published its Q1 2025/26...

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FCA publishes a new Enforcement Information Guide

Link(s):Enforcement Information GuidePS25/5: Our Enforcement Guide and greater transparency of our enforcement investigations | FCAENFG.pdf Context Following the recent publication of the FCA’s new Enforcement Guide (as part of the Handbook), the FCA has now published...

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LMA publishes new profit commission clauses model wording

Link(s):Insights Context The LMA has published two new model profit commission clauses suitable for use on binding authority agreements across all lines of business.  These updates have been produced by the LMA’s Personal Accident Committee and discussed with the...

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FCA publishes Handbook Notice No. 132

Link(s):handbook-notice-132.pdf Context The FCA has published its Handbook Notice 132, setting out its most recent Handbook updates, including those in relation to non-financial misconduct, periodic and other fees, and data decommissioning. Key points to note and next...

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FCA updates its tackling non-financial misconduct web page

Link(s):CP25/18: Tackling non-financial misconduct in financial services | FCA Context The FCA has updated its ‘Tackling non-financial misconduct’ web page with reference to SM&CR and COCON. Key points to note and next actions The added commentary states that, on...

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FCA motor insurance claims analysis

Link(s):Premium hikes driven by claims costs, but insurers told to improve claims handling | FCAMotor insurance claims analysis | FCAMotor Insurance Claims Analysis - multi-firm review Context In publishing an analysis of motor insurance claims, to support the work of...

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FCA publishes a suite of insurance-focused reports  

Link(s):Roadmap for retail insurance – empowering consumers and strengthening markets | FCARetail insurance: what we looked at and why Context The FCA has published a summary web page outlining the headlines from four separate reviews relating to general...

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TSC publishes 9th report on FOS accountability to Parliament

Link(s):Financial Ombudsman Service: departure of CEO and ‘disrespectful’ actions of Chair - Committees - UK ParliamentWork of Financial Ombudsman Service - Committees - UK ParliamentFinancial Ombudsman Service: Accountability to the House of Commons Context The House...

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FOS announces changes to compensation interest levels  

Link(s):Financial Ombudsman Service announces change to compensation interest levels – Financial Ombudsman servicePolicy Statement - interest on compensation awardsConsultation - interest on compensation awards Context Following a consultation earlier this summer, FOS...

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FCA sets faster targets for authorisations

Link(s):FCA sets faster targets for authorisations | FCAFCA letter to the Chancellor: KPIs and metrics for authorisations processes Context The FCA has announced plans to speed up processes for firms and individuals seeking authorisation.  The FCA’s aim is to maintain...

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FCA and FOS publish a new Memorandum of Understanding 

Link(s):Memorandum of Understanding between the FCA and the scheme operator, the Financial Ombudsman Service Context The FCA and FOS, alongside the announcements in relation to modernising the redress system and FOS interest rate application changes, have published an...

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FCA announces redress system reforms: CP25/22

Link(s):Redress system reforms to prevent compensation delays and provide predictability needed for innovation | FCA Redress system reforms to prevent compensation delays and provide predictability needed for innovation – Financial Ombudsman service CP25/22:...

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CII reaffirms its stance on diversity and inclusion

Link(s):‘Treating people fairly’: Reaffirming our stance on diversity and inclusion Context The CII has published a statement reaffirming its stance on diversity and inclusion, with its tens of thousands of members from around the world unified by its collective...

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FCA publishes a ‘Fee Rate Movements 2025/26’ web page

Link(s):FCA fee rate movement 2025/26 | FCA Context Following the publication of its 2025/26 Fees and Levies Policy Statement on 1st July, the FCA has now published a web page setting out reasons and rationale for fee rate movements this year, compared to last year. ...

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LMA publishes a refreshed model wording and a new clause

Link(s):InsightsLMA launches new clause to strengthen sanctions compliance in (re)insurance contracts Context The has published a refreshed model wording for UK Consumer Personal Accident lines, and a new clause to strengthen sanctions compliance in (re)insurance...

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FOS publishes complaints data and insight 2024/25

Link(s):Financial Ombudsman Service receives over 305,000 complaints in 2024/25 – Financial Ombudsman serviceQuarterly complaints data: Q4 2024/25 – Financial Ombudsman service Annual complaints data and insight 2024/25 – Financial Ombudsman service Context FOS has...

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FCA reporting and online systems updates

Link(s):Handbook Notice 131PS25/7: Data Decommissioning: Removing reporting and notification requirements | FCAPS25/7: Data Decommissioning: Removing reporting and notification requirements nvoice and credit tasks added to My FCA | FCA Context The FCA has confirmed in...

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CII sets out vision for vulnerability data sharing

Link(s):CII sets out vision for vulnerability data sharingData sharing across the distribution chain roundtable Context The CII has outlined a vision for transforming how vulnerability data is shared across the insurance and personal finance distribution chain to meet...

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FCA announces a new FCA Handbook website

Link(s):Handbook of rules and guidance | FCA Context The FCA has announced, again in its most recent Regulatory Round-Up communication and in a new web page, that it is launching a new and improved Handbook website.  This is part of our the FCA’s strategy to be a...

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ABI responds to Defra announcement on flood defences

Link(s):ABI responds to Defra announcement on flood defences | ABI Context The ABI has responded to Defra’s announcement of a commitment to invest £7.9 billion over ten years in flood defences, welcoming the Government's commitment to more funding and a long-term...

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ICO fines 23andMe £2.3m for data security failings

Link(s):23andMe fined £2.31 million for failing to protect UK users’ genetic data | ICO23andMe | ICO23andMe - Penalty Notice (Redacted Non-Confidential) Context The ICO has published an earlier press release and a redacted Penalty Notice setting out the reasons for...

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ABI responds to the Government’s Spending Review

Link(s):ABI response to the Spending Review | ABI Context The ABI has responded to the Government’s spending review. Key points to note and next actions Hannah Gurga, ABI Director General, has said the “Spending Review reaffirms the Government's continued commitment...

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IUA supports new pay gap reporting proposals

Link(s):IUA supports new pay gap reporting proposals - IUA Context Members of the International Underwriting Association (IUA) have supported plans to introduce mandatory ethnicity and disability pay gap reporting. However, the organisation warned that requirements...

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PCL publishes its 2025 Insurance Index

Link(s):Premium Credit Insurance Index 2025One in 10 SMEs plan to boost insurance cover in the year ahead Context PCL has published its 2025 Insurance Index, alongside commentary in relation to the use of premium instalment facilities by the SME community.  The...

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FSCS publishes its May 2025 Outlook

Link(s):FSCS confirms reduced levy of £356m for 2025/26 and £56m of recoveries in 2024/25 | FSCS Outlook May 2025 | FSCS Chief Executive's statement - May 2025 Outlook | FSCS FSCS Outlook May 2025 Context The FSCS has announced the publication of its May 2025 Outlook,...

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FCA consults on simplifying its insurance rules

Link(s):FCA strips back insurance rulebook | FCACP25/12: Simplifying the insurance rules | FCAcp25-12.pdfDP24/1: Regulation of commercial and bespoke insurance businessTracing employers' liability insurers | FCA Context The FCA has announced that it will simplify its...

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ICO consultation on draft updated encryption guidance

Link(s):ICO consultation on the draft updated guidance on encryption | ICO Context The ICO is consulting on draft updated guidance on encryption and responses will help provide additional further clarity for the updated final guidance. You can respond to the...

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ASA publishes its Annual Report for 2024

Link(s):Advertising Standards Authority Annual Report 2024 Context The ASA has published its Annual Report for 2024, which highlights its transformational work into a preventative and proactive regulator.   Key points to note and next actions In 2024, nearly 34,000...

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FOS publishes its latest Ombudsman News

Link(s):Half-yearly complaints data: H2 2024 – Financial Ombudsman service Strategic plans and budget – Financial Ombudsman service Complaints about discrimination – Financial Ombudsman service Context FOS has issued its latest Ombudsman News e-mail highlighting its...

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FCA publishes latest Appointed Representatives data

Link(s):Appointed representatives data | FCA Responsibilities and how to oversee your appointed representatives | FCA Principals and appointed representatives | FCA Context The FCA has published it latest 6-monthly Appointed Representatives data, showing the numbers...

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FCA updates its Supervisory Correspondence web page

Link(s):Supervisory correspondence | FCA Context The FCA has updated its Supervisory Correspondence web page to include information on historical letters and market reports. Key points to note and next actions In relation to historical letters, the FCA has marked most...

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FCA seeks views on launching a live AI testing service

Link(s):FCA set to launch live AI testing service | FCAAI for growth – how the FCA can help | FCAEngagement Paper: Proposal for AI Live Testing | FCAEngagement Paper 2025: Proposal for AI live testing Context The FCA has published a new web page and has delivered a...

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