Regulatory Updates

Companies House has published updated draft guidance on people with significant control (PSCs). The guidance awaits approval by both Houses of Parliament. The existing guidance remains in force until approved.

FOS has published a news article reminding firms that a new interest rate applies to the compensation it directs financial businesses to make for cases referred to its service on and after 1 January 2026. Following a consultation last summer, FOS announced…

The FCA has published Handbook Notice 136 which confirmed the Handbook updates relating to (amongst other things) complaints reporting, insurance simplification and non-financial misconduct.

In its latest Regulation Round Up e-mail, the FCA has confirmed that it is undertaking its post-implementation review of the general insurance value measures rules which came into force in 2021. The FCA will be surveying a sample of firms that report value…

The FCA has published Policy Statement PS25/23 confirming its final guidance to tackle serious non-financial misconduct in financial services. In July, the FCA changed its COCON rules to more closely align the rules for banks and ‘non-banks’ (so all firms).…

The FCA has published its latest Quarterly Consultation Paper no. 50, as CP25/35. There are three proposals which will are potentially relevant to general insurance firms, in relation to the decommissioning of certain sections of the REP021 insurance pricing…