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As the FCA continue to express concern over financial promotions and communications and closely monitor material, firms should ensure that they comply with regulations, notably the Consumer Duty, during marketing and communication activities.

The average house insurance premium rose by 4% in the last quarter of 2023 after multiple storms hit the UK, according to ABI. Following widespread flooding across the UK last week, it is thought that premiums could rise again.

The FCA has fined Floris Jakobus Huisamen (a former director of LCF) £31,800 and banned him from working in financial services.

Banks and brokers should prepare to receive a survey from the FCA requesting data on non-financial misconduct as the regulator begins its investigation into how incidents are detected and handled in the financial services sector.

The FCA has announced that multiple insurance firms have agreed to suspend the sale of Guaranteed Asset Protection (GAP) insurance following a request from regulator.

The FCA and Practitioner Panel joint survey will be sent to a sample of regulated firms to gather feedback on how the industry is regulated.

 

The FCA consults on its work with six independent statutory panels, which are integral to developing FCA policies and other regulatory decisions. Statutory panels represent the interests of consumers and practitioners, including smaller regulated firms and financial market participants.  In responding to the annual reports of these six panels, the FCA has addressed some general themes.

Embarking on the journey of online learning in the insurance sector brings forth its own set of challenges, with motivation often being the main hurdle to overcome. 

UKGI Learning Solutions is thrilled to announce two new additions to our team.

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