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Perspective - Blog
FCA revisits FSCS funding proposals, and abandons plans for significant changes to professional indemnity insurance requirements
The FCA has published a second consultation paper on the thorny subject of FSCS funding. Although not widely reported so far, the new consultation makes it clear that the FCA will not, after all, consult on significant changes to personal investment firms' professional indemnity insurance requirements.
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Perspective - Blog
FCA allows confidential report to be scrutinised by Treasury Select Committee
The FCA has allowed the Treasury Select Committee to review its s.166 report into RBS' Global Restructuring Group (GRG) and has published an interim summary of the report. It is possible that the threat of publication will play on the minds of firms subject to s.166 reports, which may reduce cooperation with skilled persons and therefore the efficacy of this investigatory power.
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Perspective - Blog
The FCA makes clear its expectations of financial advisers
FCA, regulatory, financial services
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Perspective - Blog
FCA criticised by Complaints Commissioner for its handling of enforcement limitation issues
The Office of the Complaints Commissioner recently upheld two complaints against the FCA for making a "serious mistake" in its management of limitation issues for two connected investigations. The Commissioner criticised the FCA not only for its mismanagement of the limitation issue, but also for the unnecessary delays in concluding its own internal investigation into these complaints.
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Perspective - Blog
DB Transfers - now what?
We know that the FCA is looking closely at defined benefit transfers; we already have the FCA's review of redress methodology and the defined benefit transfer rules. We now have the results of the FCA's review, into defined benefit transfers and it makes for uncomfortable reading for the financial services industry.
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Perspective - Publication
The Week That Was - 2 August 2024
Welcome to the week that was, a round-up of key events in the construction sector over the last seven days.
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Perspective - Publication
The Week That Was - 26 July 2024
Welcome to the week that was, a round-up of key events in the construction sector over the last seven days.
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Perspective - Publication
The Week That Was - 22 July 2024
Welcome to the week that was, a round-up of key events in the construction sector over the last seven days.
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Perspective - Publication
The Week That Was - 12 July 2024
Welcome to the week that was, a round-up of key events in the construction sector over the last seven days.
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Perspective - Publication
The Week That Was - 5 July 2024
Welcome to the week that was, a round-up of key events in the construction sector over the last seven days.
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Profile
Perspective - Blog
New virtual insurer for Hong Kong
This month saw the award of a further virtual insurer licence in Hong Kong – this time for OneDegree (on 15 April 2020). The start-up will focus, initially, on the burgeoning Hong Kong pet insurance market, before a proposed expansion into health and cyber risk.
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Perspective - Blog
ICO fines online travel insurer £175,000 for failing to keep customers’ personal information secure
The Information Commissioners Office (the “ICO”) has fined Staysure.co.uk Limited (“Staysure”), an online travel insurance company, £175,000 for its failure to comply with the seventh data protection principle, after IT security failings allowed hackers to access up to 100,000 customer financial records.
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Perspective - Blog
Building on renewable energy
2019 was potentially a significant year for the renewable energy industry. Record temperatures and environmental catastrophes highlighted the need to reduce carbon emissions and make greater use of sources of renewable energy, and political parties championing green policies saw – for the most part – their share of the vote increase both domestically and internationally.
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Press and Media
Are pension fund trustees at risk of legal action following UK gilts’ meltdown?
Are pension fund trustees conducting liability-driven investing at risk of legal action following the volatility in the UK gilt market?
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