Over the years, I have been fortunate to be welcomed into businesses as a trusted coach, consultant and facilitator of learning interventions and process optimisation.
New Data Protection Rules
These new rules will replace the current data protection rules which go back to 1995. These new General Data Protection Regulations (GDPR) are designed to give individuals more control over their own private information.
Office of Financial Sanctions Implementation
As we know, it is a criminal offence to offer any financial service to a known or suspected terrorist. Hence the reason to ensure that all clients are subject to financial sanctions checks at new business and renewal stages.
The Insurance Act 2015: Insurance Broker Sentiment Survey
RWA Solutions approached 300 of those firms with an anonymous 20 question survey and almost exactly 25% responded.
Business Risk Asessments
It is evidently prudent to keep some ‘rainy day’ money in reserve and whilst the FCA is not prescriptive about the amount of contingent element that has to be identified, it details that "adequate risk management systems" are required by PRIN 3 (which is mandatory) and a firm must "monitor and report the risks it is or might be exposed to" as required by SYSC 4.1.1.R (which is also mandatory).
Cyber Crime, Cyber Liability, Cyber Security or time for a Cider?
I thought the title might encourage you to read on! By the time you have read this, the last option may seem to be the most appealing…
FCA Focus on Client Money Documentation
In a recent meeting with the FCA, it was indicated that there is a serious concern within the client money team over the quality of documentation held by insurance broking firms.
New Part 4A P2P Permissions
Many, if not all of you, will have received an email from the FCA advising that you have been given new permissions to advise on Peer to Peer (P2P) investments.