Regulation

Does your firm have a Business Continuity Plan in place, that adequately addresses ICT issues? If so, when was the last time that it was tested?

In this modern digital age, everybody seems to have access to information about everybody else, so it pays to ensure that what is in the public domain about you is accurate and current, so be vigilant because if you see something and it worries you, it will also worry the Regulator.

In light of the recent ransomware cyber attacks, Terence Clark provides an overview of the key topics each firm must consider in order to get to grips with their cyber risks.

‘It’ll never happen to me; I’ve got nothing of interest that they would want…’

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?

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