FCA consults on the new Consumer Duty

The FCA has published CP 21/36 which includes proposed new rules and guidance setting out a Consumer Duty which it considers will "fundamentally shift the mindset of firms" and establish an appropriate level of care to consumers. The consultation is open until 15 February 2022 and the FCA expects to confirm any final rules by the end of July 2022. Read more

Global FSR Outlook 2022: Anticipating change, being prepared

We are pleased to announce the launch of our Global FSR Outlook 2022. In this annual publication, our FSR team surveys the regulatory landscape for 2022 and identifies themes that we expect to be at the core of regulatory priorities globally over the next 12 months.
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PRA Seeks to Clarify Meaning of ‘Insurance Holding Company’

The PRA is proposing to introduce a new definition of 'insurance holding company' into its rulebook (CP17/21).  The change means that some companies that are currently regarded as 'mixed-activity insurance holding companies' would probably be reclassified as insurance holding companies for the purposes of group supervision. Read more

FCA consults on post-Brexit divergence for PRIIPS Regulation

On 20 July 2021, the FCA published a long awaited consultation paper seeking views on proposed amendments to address concerns with the UK Packaged Retail and Insurance based Investment Products (“PRIIPs”) Regulation (“UK PRIIPs Regulation”), including the lack of clarity on the scope of the UK PRIIPs Regulation, misleading performance scenarios and summary risk indicators, and concerns with the transaction costs calculation methodology. Read more