11 May 2018
Succeeding in financial promotions
The process of creating compliant financial promotion and marketing materials isn't straightforward. Firms have to balance their sales message (what they want to say) with strict regulatory require...
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Succeeding in financial promotions
11 May 2018
The process of creating compliant financial promotion and marketing materials isn't straightforward. Firms have to balance their sales message (what they want to say) with strict regulatory requirements to disclose key product and company information and not to mislead the customer (what they have to say, what they can say and how to say it). This can be a particular challenge when explaining the complexities of some financial products. Drawing upon OAC's experience of checking financial pro...
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16 April 2018
PRA CP8/18 spells the end to external audits for small Solvency II firms
On 11 April 2018, the PRA announced its consultation on the removal of the external audit requirement for "small firms" from 15 November 2018. Currently, Solvency II firms require an external audit...
12 April 2018
Implementing the Insurance Distribution Directive - Part 2
This article follows on from our previous article about implementing the Insurance Distribution Directive (IDD) which concentrated on the issues surrounding complex and non-complex products, wherea...
14 March 2018
Suitability of Pension Transfer Advice
The Financial Conduct Authority (FCA) has growing concerns about the suitability of defined benefit (DB) pensions transfer advice and has issued alerts outlining the areas of its unease and the exp...
14 March 2018
Implementing the Insurance Distribution Directive
We are sure you already know that the implementation of the Insurance Distribution Directive (IDD) has been delayed until later this year, and, like us, have welcomed that. The European Parliament...
06 March 2018
Solvency II reporting changes for small insurers and friendly societies
In January, the PRA announced it consultation (CP2/18) into a number of reporting changes to “reduce the burden” on Solvency II firms. This consultation closes on 13 April 2018. The purpose of this...
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