With the publication of the final rules there is now only a year to go before firms must comply with their Consumer Duty obligations. The FCA has emphasised that this must be a major cultural shift. While it’s good news that...more
From 1 April 2019 two significant changes take effect:
- The jurisdiction of the FOS is extended to cover small and medium-sized enterprises, certain charities and trusts and personal guarantors; and
- The FOS award...more
On 19 February 2019, the European insurance regulator EIOPA released recommendations for the insurance sector, calling on national supervisory authorities (“NCAs“) in the EU27 to minimise the detriment to insurance...more
2/21/2019
/ Consumer Insurance Products ,
Cross-Border Transactions ,
EIOPA ,
EU ,
European Economic Area (EEA) ,
Financial Services Industry ,
Insurance Regulations ,
Member State ,
NCAs ,
No-Deal Brexit ,
Transitional Arrangements ,
UK ,
UK Brexit
FCA publishes final guidance on regular premium PPI complaints and new consultation on mailing rules....more
11/13/2018
/ Consumer Complaint Management ,
Consumer Insurance Products ,
Disclosure Requirements ,
Final Guidance ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Insurance Regulations ,
Payment Protection Insurance ,
Sales Commissions ,
Transparency ,
UK
On 24 October 2018, the FCA published a report on the progress of its consumer communications campaign on PPI mis-selling (the “CCC”) and its supervision of the manner in which firms are handling PPI complaints....more
11/7/2018
/ Complaint Procedures ,
Conflicts of Interest ,
Consumer Credit Act ,
Consumer Insurance Products ,
Failure To Disclose ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Insurance Regulations ,
Ombudsman ,
Payment Protection Insurance ,
Sales Commissions ,
UK
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...more