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Home Insurance Premiums Rise due to Adverse Weather and Inflated Repair Costs
According to the latest ABI Household Premium Tracker, after multiple storms hit the UK, the average house insurance premium rose by 4% in the last quarter of 2023 and with recent widespread flooding across the UK, it is thought that premiums could rise again.…
The FCA and the Practitioner Panel launch their joint survey for 2024
The FCA and Practitioner Panel joint survey will be sent to a sample of regulated firms to gather feedback on how the industry is regulated. The survey is carried out on the FCA’s behalf by Verian (formerly known as Kantar Public), an independent social…
FCA responds to its independent panels’ annual reports
The FCA consults on its work with six independent statutory panels, which are integral to developing FCA policies and other regulatory decisions. Statutory panels represent the interests of consumers and practitioners, including smaller regulated firms and…
Everyday financial concerns will drive complaints to the Financial Ombudsman in 2024
Having reminded firms that its current Plans and Budget Consultation closes soon, FOS has taken the opportunity to restate the views it expressed in the Consultation about the nature of the complaints it expects to receive over the next twelve months.
FCA reminds firms about resubmitting consumer credit proxy income figures in CCR returns
In its November fee consultation paper, as highlighted in our News article of 27th November 2023, the FCA proposed to change the way certain consumer credit firms calculate the proxy measure of income, updating its CCR002 and CCR007 help pages accordingly.…
FCA and PRA joint Consultation CP24/1: FSCS – Management Expenses Levy Limit 2024/25
The FCA and the PRA have jointly published a Consultation in relation to the 2024/25 Management Expenses Levy Limit (MELL) for the FSCS. It is accompanied by an Appendices document, with Appendix 4 in the document (on page 8) setting out the proposed 2024/25…
