We are very pleased to announce that RWA has acquired Edinburgh firm Hansen Young Consulting (HYC). Andrew Linnell has joined the RWA team within our business growth and strategy support division.
n a recent meeting with the FCA, it was indicated that there is a serious concern within the client money team over the quality of documentation held by insurance broking firms.
You should all be aware of the new requirements from the CMA about the need to give clients specific detail about how the protected no claims bonus works.
It is evidently prudent to keep some ‘rainy day’ money in reserve and whilst the FCA is not prescriptive about the amount of contingent element that has to be identified, it details that "adequate risk management systems" are required by PRIN 3 (which is mandatory) and a firm must "monitor and report the risks it is or might be exposed to" as requi…
A Client TOBA is a very familiar document to us all and these were in existence in many firms long before January 2005, the start of FSA regulation.
It is no secret that the FCA are driving clarity and transparency therefore firms must ensure that they are delivering services that meet the customers best interests.
The above Policy Statement has been issued by the FCA outlining the final rules following on from the consultation process which started at the end of 2015. These new rules apply to Consumers only.
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Ever since credit broking became regulated by the FCA, all firms, including General Insurance Brokers, have to report their data to the FCA.
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