Insurance Compliance

In 2018, there was a reported 24% increase in the number of whistleblowing complaints to the FCA - an increase which follows the introduction of SM&CR within the financial sector.

The FCA has confirmed that the Financial Ombudsman Service’s award limit is to increase from April 2019.

The FCA has confirmed its proposals in the event of a no-deal Brexit, publishing near final rules and guidance which will apply in the event that the UK leaves the EU without a deal on 29 March 2019.

The FCA has published its final report of the Wholesale Insurance Brokers market study.

The FCA has introduced CultureSprint events to consider ‘psychological safety’ in the financial services sector. With SM&CR on the horizon, organisational culture is increasingly in the spotlight. The first event discussed ways in which a healthy culture, where employees can speak up and be listened to, is created and maintained.

An explanation of the FOS fees declaration.

The FCA is to host Brexit briefings for regulated firms.

Are you up to date? All regulated firms are being reminded by the FCA that they need to check their list of registered users of Connect.

Can you honestly state that your firm has a purpose and a culture that sets an example within the financial services market? Under SM&CR, it will no longer be acceptable to sit back and say that you turned a blind eye to bad behaviour because of weak culture and governance.

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