Regulation – Page 218
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News
Hardy moves closer to Bermuda decision
Hardy has moved a step closer to redomiciling to Bermuda, with chief executive Barbara Merry travelling to the country on a fact-finding mission.Merry said Hardy was undertaking a “very comprehensive review” of the Bermuda market, and accused the Treasury of “making the situation worse” in denying tax cuts to the ...
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News
IIB seeks to put pressure on FSA over disclosure
The IIB is to urge the Treasury to intervene over the FSA’s investigation into commission transparency. The trade body is gearing up to tackle Treasury officials and MPs at the IIB’s annual reception at the House of Commons next month.The institute’s directors were hoping to further their argument that mandatory ...
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News
FSA backtracks on FSCS wholesale funding model
The FSA has scrapped plans to require wholesale brokers and insurers to contribute to a high-level funding pool of the Financial Services Compensation Scheme (FSCS).The regulator had proposed a ‘wholesale’ pool as part of its reform of the FSCS, which would have added between £1bn and £2bn of funding to ...
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FSA abandons plans for wholesale compensation pool
Regulator says new compensation scheme will operate from 1 April 2008
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Features
The cultural revolution
Rachael Rigby says the way the Treating Customers Fairly principles are used can improve customer service and drive business improvements
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Berkeley Alexander makes inroads into mortgage market
Company to supply general insurance prodcuts to members of the HomeLoan partnership network
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Insurers urge IASB to listen to the industry
New accounting standard may developed without consultation
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ABI backs commission's investigation into PPI
Industry initiative key to customers making informed decisions
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Competition Commission opens PPI investigation
Consultation document invites views on nature of PPI
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FSA calls for TCF increase
Report calls for renewed energy to deliver better results on Treating Customers Fairly
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SupplementsFSA’s client money rules not OK
Brokers complain that the client money rules are too complex and unnecessary, are they right? Marcus Alcock reports
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News
FSA shuts broker for failing to submit returns
The FSA has shut down Sharp Insurance Services for failing to submit its regulatory returns.The regulator said in a final notice that Sharp’s permission to carry on regulated activities had been withdrawn. Newbury-based Sharp had failed to conduct its business in compliance with proper standards. It had also failed to ...
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News
Consultation on novice drivers
The government will launch a consultation on whether to overhaul the rules for novice drivers next month, the Department for Transport (DfT) said this week. It follows a report from the Commons Transport Select Committee on young drivers. Recommendations put to government included calls for zero alcohol levels for the ...
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Online onlyBIBA blasts government over ATOL reforms
New protection contribution system leaves 40% of travellers unprotected
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ABI disappointed at decision to scrap ATOL bonds
ABI said decision will have grave impact on businesses
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News
FSA finds £9bn capital shortfall
Insurers under estimated their regulatory capital requirements by a total of £9bn, a review by the FSA has found. The FSA said that 50% of companies had failed to make a “sufficiently robust” assessment of the amount of capital they needed to hold, known as the individual capital assessment (ICA). ...
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Comments/Letters
In the last chance saloon
Sarah Harding says the FSA is ready to get tough with the brokers that have not made progress in embedding the Treating Customers Fairly principlesF
