Are you ready for SMCR? The Senior Managers and Certification Regime (SMCR) comes into effect on the 9th December 2019 for solo-regulated firms. This affects all Financial Services and Markets Act (FSMA) authorised firms. SMCR represents a complete overhaul of the current Approved Persons Regime and will require a considerable amount of effort, resource and
SMCR. Are you ready? Read More »
Now we have provided our subscribers with the facts about Continuing Professional Development in our previous CPD article,we wanted to outline some key features and benefits we have at our disposal which will help you implement and monitor an effective CPD strategy – Why Peak Consultants? Peak Consultants have created e-learning modules, which can be
CPD. What Peak Consultants can do for you Read More »
All firms are required to take a more active role in identifying their customers’ demands and needs and must ensure that any insurance contract proposed is consistent with them. The stricter requirements mean firms can’t simply offer all of the firm’s available products through generic statements about the type of needs each product will meet.
Mitigating The Risks! Consumers demands and needs – The importance of getting it right Read More »
The Financial Conduct Authority (FCA) introduced Continuing Professional Development (CPD) that became a regulatory requirement for all insurance providers, intermediaries and professionals from 1st October 2018. The new requirement arises from the Insurance Distribution Directive that has passed into EU legislation after 4 years of debate and consultation. It replaces the Insurance Mediation Directive (IMD).
The Financial Conduct Authority and Continuing Professional Development Read More »
The FCA has published its Thematic Review into GI insurance distribution chains. The FCAs findings have highlighted and identified areas where there is potential of harm and poor outcomes for customers arising from the product development, sales and distribution approaches in some sectors of the GI market. The FCA’s Thematic Review highlights the importance of
FCA expectations of general insurance (‘GI’) firms Read More »
The Insurance Distribution Directive requirements has meant that the FCA has introduced a completely new section to its handbook, called PROD, which can be found via this link: https://www.handbook.fca.org.uk/handbook/PROD/4/1.html?date=2018-10-01 PROD stipulates the rules surrounding product governance: including the design, approval, testing and identifying the target market of products, assessing distribution channels and monitoring product performance.
PROD now in the FCA handbook Read More »
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