Regulation

It is that time of year when firms are looking closely at the past year’s performance of staff and setting new objectives for the year ahead. Katherine Watkins explains why it’s important to get the appraisal process right – and highlights the risks of getting it wrong.

The FCA has recently contacted insurance firms reminding them about the REP019 General Insurance Value Measures Report.

The FCA has reflected on the regulatory work undertaken in 2021 to pursue its primary objectives of protecting consumers from harm, enhancing the integrity of the UK’s financial system and promoting competition.

The FCA expects the New Year to deliver “fairer home and motor insurance renewals”, as pricing rules came into effect on 1 January.

The FCA has made a small update to its ‘questions and answers’ document on the General Insurance Pricing Practices published rules.

The FCA has issued a further consultation paper on its proposed new Consumer Duty, which is intended to ensure a higher and more consistent standard of protection for consumers and to prevent harm before it occurs.

The FCA is consulting on proposed improvements to the Appointed Representatives (ARs) regime.

The FCA has proposed changes to the fees financial services firms pay for 2022/23.

The FCA has announced reforms to its decision-making processes in order to address consumer harm.

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