Analysis

Briefing: Is the FCA finally getting serious about reducing the compliance burden?

By 2025-06-10T08:00:00

reduce admin burden

The regulator appears to be listening to broker feedback as it hosts unique webinar to address industry concerns – but will proposed changes actually be implemented and have the desired impact?

The insurance industry has long lamented the regulatory burden under which it operates.

Last week, Biba chief executive Graeme Trudgill described the UK insurance market as “one of the most, if not the most, expensive regulatory systems in the world” when he sat alongside me on the panel of an Insurance DataLab webinar, held on 4 June 2025.

The regulator, however, finally appears to be taking notice of broker complaints and, on the same day as Insurance DataLab’s webinar, the FCA hosted its own online session to dispel some of the myths around Consumer Duty and fair value assessments.

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