The regulator has published the minutes of the latest Wider Implications Framework Executive Level Meeting, and an updated log of live Wider Implications issues as of the end of November 2024.
Insurers
CII findings suggest "every insurance claimant should be treated as vulnerable"
The CII has published a summary of findings from its recent ‘Road to Consumer Trust’ roundtable, which explored how firms, practitioners and other stakeholders can collaborate to raise the standard of care offered to insurance policyholders following the introduction of the Consumer Duty.
FCA publishes Consultation Paper on Operational Incident and Third-Party Reporting
The proposals aim to bolster the FCA’s operational resilience framework for firms and seek to establish a consistent, sufficient, and timely framework for reporting operational incidents and material third-party arrangements.
Boards should not act as ‘rubber stamp of approval’; effective challenge vital to Consumer Duty board reports, according to FCA
The FCA claim “effective challenge is essential” to Consumer Duty board reports.
Consolidation: A threat, or a benefit to the client relationship?
This article explores the impact on and consequences for clients of consolidation within the broking market, and key factors which can influence whether consolidators serve to benefit clients, or risk compromising their client relationships, value, and offering.
Ministry of Housing, Communities & Local Government publishes Consultation on Permitted insurance fees for Landlords, Freeholders & PMAs
The Ministry of Housing, Communities and Local Government has published a consultation seeking views on proposals to prevent freeholders, property managing agents and landlords from imposing opaque and excessive charges on leaseholders related to building insurance, often in the form of commissions.
Most Common Passwords of 2024
NordPass, the password management platform, has unveiled its annual report showcasing the most used passwords for 2024. Is your password listed?
FCA softens enforcement transparency proposals and seeks further consultation
In response to widespread criticism of its proposals to publicise ongoing enforcement investigations, the FCA has amended its proposals and published, what it refers to as, the second phase of its consultation.
Cyberattacks cost UK businesses £44bn in past 5 years, according to research by Howden
According to research by Howden, half of UK businesses suffered at least one cyberattack in the past five years, costing £44bn in revenue.