Insurance Compliance

Organisational culture is at the heart of the Senior Managers and Certification Regime (SM&CR) – but what is it and why is the FCA placing so much importance on positive cultures in firms? Nathan Matthews looks at how a positive culture can be embedded across an organisation.

The team at RWA has compiled its quarterly review of the FCA’s communication documents, covering the period from January to March 2019. Have a look at our review if you want keep up to date with the latest FCA documentation.

Complaints handling is one of the eight core knowledge requirements for insurance intermediaries under the IDD and the FCA has highlighted general insurance complaints as a ‘hot topic’ in its March 2019 regulation round-up. Is your firm dealing with complaints effectively?

In a recent speech, the FCA laid out its preparations for Brexit, including its expectations of firms and the implications for consumers.

RWA’s Managing Director, Ash Patel, shares a practice focused perspective of the Senior Managers and Certification Regime (SM&CR).

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.

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