King's speech briefing notes confirm planned ban on buildings insurance commissions
The Prime Minister’s Office has published a background briefing notes document in relation to the King’s Speech, alongside a copy of the speech itself. One item of note is the background information in relation to a proposed Leasehold and Freehold Bill.…
PRA discussion paper DP2/23 "FSCS General Insurance Limit"
The Prudential Regulation Authority (PRA) has published a Discussion paper DP2/23 about the FSCS general insurance limit. This DP seeks feedback on whether it would be appropriate to increase FSCS limits for some or all of the General Insurance areas currently…
Client money and client money audits – an auditor’s view
A number of ICS staff recently attended a client money webinar held by the Institute of Chartered Accountants of England and Wales (ICAEW). Here we share the key messages from the webinar and some insights on the issues arising out of client money audits.
FCA writes to Principal firms about overseas Appointed Representatives
The FCA has been undertaking increased engagement with Principal firms as part of its three-year strategy to improve the oversight of ARs. The FCA’s Consultation Paper CP21/34 and Policy Statement PS22/11 set out some of the challenges Principals may face in…
ICO publishes guidance to ensure lawful workplace monitoring
The Information Commissioner’s Office (ICO) is calling on organisations to consider both their legal obligations and their workers’ rights before they implement any monitoring in the workplace. With the rise of remote working and developments in the…
Financial resilience and resilience reporting – why, what, and what next?
Financial resilience is the ability of an organisation to withstand events that affect its capital structure, liquidity, revenue and assets, and is a measure of how robust a financial plan is to shocks. Without it, operational and reputational resilience…