FOS speech at the FCA’s ‘Consumer Duty: One year on’ webinar
At the FCA’s “Consumer Duty: One year on” webinar, Abby Thomas, the FOS Chief Executive and Chief Ombudsman, delivered a speech reflecting on the first year of Consumer Duty. The speech covered the role of FOS, the impact the Consumer Duty has had on…
FCA speech at its ‘Consumer Duty: One year on’ webinar
At its “Consumer Duty: One year on” webinar, Sheldon Mills, FCA Executive Director of consumers and competition, delivered a speech reflecting on the first year of Consumer Duty. In considering the impact of the Duty to date, the FCA welcomes the improvements…
Chartered Insurance Institute advises against a ‘one-size-fits-all’ approach to DE&I
In a recent webinar on ‘Crafting EDI strategies in an evolving regulatory landscape’, formed in collaboration with the Association of British Insurers (ABI), Dr Matthew Connell, Director of Policy and Public Affairs at the CII addressed criticism faced by the…
FCA publishes Insurance multi-firm review of outcomes monitoring under the Consumer Duty
The FCA has published the details of a multi-firm review it carried out in December 2023 amongst twenty large insurance firms, including general insurers, life insurers, insurance intermediaries and regulated third-party outsourcers which service insurers. In…
FCA publishes information for Principals with overseas Appointed Representatives
The FCA has published a page for Principal firms with Overseas Appointed Representatives (OARs). The information covers additional challenges that Principals may face, and outlines expectations and practical considerations for overseeing OARs. Feedback to…
FOS announces the continuation of and changes to the proactive settlement scheme
The FOS proactive settlement scheme currently gives financial businesses the opportunity to resolve a complaint early in the FOS process. Over the past couple of years FOS has trialled this new scheme to help financial businesses and their customers resolve…