FCA considers removing annual product reviews in proposals for scaled-back insurance rules

Compliance with supervisory rules, compliance regulations and related costs on average account for more than 5 percent of the costs of an insurance contract, according to an investigation conducted by the British brokerage association Biba. He appeals to the policy to review the requirements in the UK and to remove excessive regulation. The experts are therefore open to the public: In the future, the supervision of FCA will exclude industrial in…

FCA Must Prioritise Faster, More Secure Payments, Say High-Risk Finance Businesses as PSR Is Wound Down

As the Financial Conduct Authority (FCA) prepares to take over full responsibility for regulating UK payments, new research from Equals Money reveals that combating fraud and tackling widespread delays are top priorities for higher-risk players in the industry. A Censuswide survey of 500 senior leaders in the UK’s money service sectors with elevated risk profiles

FCA unveils plans to simplify insurance rulebook

The FCA has unveiled plans to significantly simplify its insurance rulebook in a move that could lower costs, improve product oversight, and reduce compliance burdens on firms.  The proposals are aimed at cutting outdated and duplicative regulation while retaining core consumer protections.

Industry welcomes FCA's plan to simplify insurance rules

The Financial Conduct Authority (FCA) has announced plans to remove outdated or duplicate requirements from its insurance rulebook, aiming to reduce costs and improve access for businesses and consumers who rely on insurance to manage risk, while still ensuring appropriate levels of protection. Matt Brewis, director of insurance at the FCA, commented, “We are stripping back our insurance rulebook by removing ineffective, outdated or duplicated r…

FCA considers removing annual product reviews in proposals for scaled-back insurance rules

The Financial Conduct Authority (FCA) has proposed getting rid of duplicate annual reporting and removing the need for products to be reviewed at least every 12 months as part of plans to simplify its insurance rules. The post FCA considers removing annual product reviews in proposals for scaled-back insurance rules appeared first on Mortgage Solutions.