Regulation

We are pleased to announce that RWA's Our Meeting Recorder iPhone app has had an upgrade and a bit of a facelift. The latest development now allows insurance brokers to take a photograph of their client visit and attach it to the email as further evidence for future use.

Can you cancel your permission to hold client money?
The FCA does not want firms to have permissions that they do not need, so if you don't hold client money, can you dispense with the permission?
Within the closely regulated insurance industry, our day-to-day activities are defined by rules set out by the FCA.
It will not have escaped your notice that as well as setting out the rules by which we must abide, the [FCA] handbook is littered with guidance too.
So what should we follow? Rules or guidance...
Terence Clark presents a quarterly review of the Financial Conduct Authority's communication documents.
If you are an appointed person, or are responsible for compliance within your firm, it is important that you review this  summary of FCA documentation.

We should by now, all be familiar with the Regulator's view that firms must be able to show consistently that fair treatment of consumers is at the heart of their business model. It’s not unreasonable for consumers to expect the provision of financial services and products that meet their needs from firms they trust. After all the whole concept of the fair treatment of consumers isn’t ground breaking. It’s not just a regulatory requirement, it’s good business practice, right?

Vulnerable Customers are an important factor in our industry as we strive to do the best for our customers and treat them fairly.

It’s become such a hot topic that it is now high on the FCA radar as they look to examine how vulnerable customers are treated by the insurance industry.

The IDD Consultation Paper is one of the most important for the insurance broking profession and the industry generally for quite some time.
It is clear that as a profession we let the FCA down by responding very poorly to the Renewal Transparency Consultation.
It is vital that we learn our lesson and respond to this CP in force, by giving feedback, where appropriate, to the IDD Consultation.

A 'how to' guide to explain why staff supervision is so important, and what represents 'best practice' in terms of monitoring staff, gathering evidence, and keeping records.

Strong business planning and forethought is vital to ensuring that a truly defined customer centric culture is established and maintained.

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