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Financial Services Industry Insurance Industry Financial Conduct Authority (FCA)

Skadden, Arps, Slate, Meagher & Flom LLP

FCA Premium Finance Study: Concerns Raised but No Regulatory Changes Proposed

- 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

Cadwalader, Wickersham & Taft LLP

Global Moves, Digital Shifts, July 2025 - UK Government Announces Programme of Regulatory Reforms

On July 15th, the UK Government published the final version of its Financial Services Growth and Competitiveness Strategy (the Strategy). The Strategy aims to “[roll] back regulation that had gone too far in seeking to...more

Hogan Lovells

UK’s Financial Services Growth and Competitiveness Strategy: Welcome news for insurers

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The UK government’s Financial Services Growth and Competitiveness Strategy published on 15 July 2025, identifies insurance/reinsurance as one of the sectors with ‘priority growth opportunities’ and as such the Strategy sets...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK’s Proposed New Captive Insurer Regime: Key Developments and Next Steps

What is new: The UK government has proposed a new regulatory framework for captive insurance companies, aiming to simplify regulations and enhance competitiveness in the financial services sector. Why it matters: The...more

Proskauer Rose LLP

Regulation Round Up - May 2025

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Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Financial Regulation Update

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

Latham & Watkins LLP

FCA Publishes Results of Non-Financial Misconduct Survey

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The data provides important insights to assist firms with their ongoing work in this area. On 25 October 2024, the FCA published the results of a survey on non-financial misconduct it undertook earlier in the year...more

Hogan Lovells

UK Consumer Duty: FCA publishes results from insurance multi-firm review of outcomes monitoring

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In December 2023, the Financial Conduct Authority (FCA) carried out a review of the most recent board and/or committee reporting from 20 larger insurance firms (including general and life insurers, insurance intermediaries...more

Cadwalader, Wickersham & Taft LLP

Quick Updates From the UK and Europe

There's been a flurry of regulatory activity in the UK and Europe over the past few weeks. Here's a look at the highlights. The EU has renewed its determination that the solvency regime for US-headquartered insurers and...more

A&O Shearman

FAQs: UK FCA consults on plans to publicise investigations and amend its Enforcement Guide

A&O Shearman on

By now, you may have heard that the UK Financial Conduct Authority (FCA) is consulting on changes to its approach to publicising enforcement investigations, as well as other changes to its Enforcement Guide. If they come into...more

WilmerHale

Toxic Culture Review: FCA Statutory Demand for Non-Financial Misconduct Data

WilmerHale on

“The wholesale insurance market in particular has a long way to go in having an inclusive culture...areas for improvement include...preventing and handling non-financial misconduct,” stated the Financial Conduct Authority...more

Hogan Lovells

UK Insurance Horizon Scanner - October, November and December 2023

Hogan Lovells on

A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next few months. MONTH DATE DETAILS OCTOBER 9 Insurance Distribution Directive (UK)...more

Latham & Watkins LLP

UK Proposes Insurer Resolution Regime

Latham & Watkins LLP on

The proposals would give the Bank of England wide-ranging powers to deal with acute failure scenarios, treating policyholder liabilities as loss-absorbing. HM Treasury (HMT) is proposing1 a new UK resolution regime for...more

Latham & Watkins LLP

The Edinburgh Reforms - Where Are We Now?

Latham & Watkins LLP on

As the pace of reform increases, we take a look at key developments and the timeline ahead. Significant progress has been made on the Edinburgh Reforms since they were announced in December 2022, with developments...more

Hogan Lovells

UK Consumer Duty: FCA outlines expectations on fair value assessments as July deadline looms

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In a speech marking less than three months until the first Consumer Duty implementation deadline, the FCA has warned that firms can expect swift action if they ignore the Duty or pose the most harm to consumers. As part of...more

Latham & Watkins LLP

Consumer Duty Update: FCA Issues Dear CEO/Director Letters Setting Priorities for Sectors

Latham & Watkins LLP on

The letters ask senior management to prioritise implementing the Duty. On 3 February 2023, the FCA published Dear CEO/Director letters underscoring the immediate (i.e., during the implementation period up until 31 July...more

Hogan Lovells

UK Insurance Horizon Scanner – January and February 2023 edition

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A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next couple of months....more

Skadden, Arps, Slate, Meagher & Flom LLP

From Solvency II to Solvency UK: The UK Government Announces Its Post-Brexit Solvency II Reforms

Following the UK’s departure from the European Union (Brexit) on December 31, 2020, the UK is now exercising its freedom to move away from key EU insurance prudential regulatory standards. These moves include liberalization...more

Latham & Watkins LLP

FCA Proposes New Climate-Related Disclosure Regime

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The FCA is proposing a disclosure regime for asset managers, life insurers, and pension providers. On 22 June 2021, the FCA published a Consultation Paper (CP21/17) on introducing climate-related financial disclosure...more

Latham & Watkins LLP

FCA Issues New Rules on Insurance Pricing Practices

Latham & Watkins LLP on

The new rules follow coordinated regulatory and antitrust scrutiny of overcharging loyal customers. On 28 May 2021, the FCA published a policy statement setting out new pricing practices rules for insurers and insurance...more

A&O Shearman

UK Climate Financial Risk Forum Publishes 2020 Guide

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The U.K. Climate Financial Risk Forum has published its first guide providing practical recommendations for the financial services sector on how to respond to climate-related financial risks. The CFRF was established by the...more

BCLP

Emerging Themes in Financial Regulation 2020

BCLP on

Under the Senior Managers and Certification Regime (“SMCR”), firms are required to identify and report to the FCA any instances of disciplinary action taken in relation to conduct that would amount to a breach of one of the...more

Latham & Watkins LLP

FCA Warns of ‘Significant Weaknesses’ in Firms’ Implementation of the Conduct Rules

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All firms should take note of the FCA’s latest feedback on SMCR implementation. In its latest piece of feedback on firms’ implementation of the SMCR, the FCA indicated that firms must improve their implementation of the...more

A&O Shearman

Key Regulatory Topics: Weekly Update 12 July 2019 - 18 July 2019

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BREXIT - EEA Joint Committee Decisions - On 18 July, four Decisions of the EEA Joint Committee made on 29 March and five Decisions made on 11 April that amend Annex IX (Financial Services) to the EEA Agreement were...more

Hogan Lovells

UK: Focus on Climate Change and Green Finance

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On 5 June 2019, the Treasury Committee launched an inquiry into the decarbonisation of the UK economy and green finance which will look at the role of the UK regulators and financial services firms in supporting the...more

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