Improper inducement or legitimate distribution fee? The UK Supreme Court’s landmark ruling clarifies the rules on intermediaries that are common to the supply chain of almost all financial services....more
8/15/2025
/ Anti-Bribery ,
Appeals ,
Bribery ,
Disclosure Requirements ,
Fiduciary Duty ,
Financial Services Industry ,
Insurance Brokers ,
Insurance Industry ,
Intermediaries ,
UK ,
UK Supreme Court
- What is new: Preliminary findings from the Financial Conduct Authority’s (FCA’s) market study of premium finance, which focuses on motor and home insurance, highlight concerns about affordability, value and transparency,...more
8/4/2025
/ Banking Sector ,
Competition ,
Consumer Financial Products ,
Consumer Protection Laws ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Insurance Industry ,
Interest Rates ,
Loans ,
Regulatory Oversight ,
Regulatory Requirements ,
UK
Is payment to an intermediary, not by its client but by the financial service provider, an illegal inducement or a legitimate distribution cost?
In Hopcraft, the UK Supreme Court will consider this perennial question. The...more
5/22/2025
/ Bribery ,
Competition ,
Disclosure Requirements ,
Fiduciary Duty ,
Financial Conduct Authority (FCA) ,
Insurance Industry ,
Insurance Litigation ,
Lenders ,
Popular ,
Remuneration ,
UK
The first four months of 2025 proved busy for the UK’s financial regulators, with both the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) publishing their strategy and business plan documents. As...more
5/5/2025
/ Anti-Money Laundering ,
Banking Sector ,
Banks ,
Cryptoassets ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Insurance Industry ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Regulatory Reform ,
Risk Management ,
UK ,
White Collar Crimes
On 21 August 2024, the Financial Conduct Authority (FCA) published Thematic Review TR24/2 (Review), as part of its on-going scrutiny of the general insurance sector, focusing on pricing and value for money provided by...more
Solvency II is organised around three core pillars of prudential regulation, which ensure the safety and soundness of (re)insurers, in line with the scale, nature and complexity of their business:
- Pillar One focuses on...more
9/4/2024
/ Capital Requirements ,
EIOPA ,
EU ,
European Banking Authority (EBA) ,
Financial Institutions ,
Insurance Industry ,
ORSA ,
Outsourcing ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
Risk Management ,
SMCR ,
Solvency II ,
UK
The PRA has released an important statement on its approach to funded reinsurance. Our view is that the statement endorses the conceptual principle that funded reinsurance (particularly to offshore counterparties) should best...more
8/2/2024
/ Banking Sector ,
Capital Requirements ,
Collateral Agreements ,
Financial Institutions ,
Financial Services Industry ,
Insurance Industry ,
Life Insurance ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
Reinsurance ,
Risk Management ,
Solvency II ,
Standard Contractual Clauses ,
UK