UK Insurance: FCA (17 October 2016)

OAC Digest

17 October 2016

Selected recent news from the UK's conduct regulator:

On 14 October, the FCA announced the outcome of their thematic review reporting that they "found no evidence of an industry-wide or systemic failure to provide customers with sufficient information about enhanced annuities through non-advised sales." However, further action is being taken in respect of a "small number of firms" where the regulator identified failings "of sufficient concern".

On 11 October, the FCA published both Feedback Statement FS16/10 and Policy Statement PS16/23 in relation to their Smarter Consumer Communications initiative. The regulator is removing the requirement for firms to produce the CFPPFM with effect from 22 November 2016.

David Gray

For more information
David Gray
Consultant Actuary

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