FCA publishes a Consultation Paper – CP23/8 – Multi-occupancy buildings insurance
The issue of multi-occupancy leasehold buildings insurance is now under a significant FCA and Government spotlight. The FCA is concerned about the amount brokers are earning, and the amounts paid away to freeholders and property managing agents. The…
FCA and PRA launch a joint Discussion Paper – DP21/3 – a review of the Senior Managers and Certification Regime (SM&CR)
The FCA and PRA are reviewing the effectiveness, scope, and proportionality of the SM&CR, which is the basis for this Discussion Paper. HM Treasury has, in parallel, launched a Call for Evidence to look at the legislative aspects of the regime. The reviews…
Reporting or notifying Close Links changes, and Change in Control (CiC) applications and notifications
This Hot TopICS seeks to provide a high-level reminder of requirements in relation to Close Links notifications and the Change in Control (CiC) process, as these are both areas which prompt regular questions from firms. Unlike changes in control, changes to…
Delivering your Consumer Duty implementation plans
By the end of October 2022, firms should have reviewed, challenged and agreed their plans for implementing the Consumer Duty, ensuring that they were robust and deliverable, and should now be well on the way to putting those plans into practice and embedding…
Evidence to support GI pricing reporting and the senior manager attestation
Following the March 2022 general insurance (GI) pricing senior manager attestations, the FCA carried out follow-up work that involved contacting firms and asking for sight of the evidence and management information (MI) that they had considered to enable them…
New multi-factor authentication for access to FCA systems
From 20th January 2023 the FCA will be introducing multi-factor authentication (MFA) for logging-in to its systems, which will be an additional level of security the regulator considers necessary to protect and control access to FCA and firm data. This Hot…