In an era where technology is redefining the financial landscape, it’s crucial for firms to stay ahead of the curve. Nikhil Rathi, CEO of the FCA, recently shed light on the importance of embracing this digital revolution, but with a cautious approach.
Discover the key take-outs from the speech and learn top tips on how to navigate the dynamic intersection of finance and technology successfully.
The FCA has published its business plan for the year ahead. This is the final phase of its three-year strategic vision, and it sets out their focus and commitments – none of which should be ignored by firms.
In March, the FCA published a Consultation Paper (CP 24/2) on plans to be more transparent when an enforcement investigation is opened. And it means the potential reputational risk for insurance firms may become significantly greater. Here’s our summary of the CP.
The recent review by the FCA into how manufacturers and distributors are meeting their obligations around product governance flagged various shortcomings. With the potential of more supervisory and regulatory action, here’s some timely advice.
Ensuring DEI is on the agenda at Board level is the gateway to driving meaningful change. Yet, even with the FCA’s pressure, it can be a battle. Our roundtable panel gave their views and advice on the matter.
The FCA has recently demonstrated a more assertive approach to regulation under the Consumer Duty, leading multiple insurers to pause sales of Guaranteed Asset Protection (GAP) insurance. In the following article we delve into the FCA’s actions, the implications for firms, and the potential changes in the insurance industry.
The FCA’s communications on the Consumer Duty published in February shed light on how firms are doing in preparation for the Duty. Here’s a snapshot of the key research findings and the considerations Padda Consulting would urge firms to now look at more closely.
In February 2024, the FCA published the findings of its recent review, listing examples of good practice, as well as areas for improvement, among firms working to meet the new standards.
Padda Consulting is a London based compliance consultancy, focused on helping the insurance industry maintain and achieve regulatory compliance. We work with firms of all sizes, worldwide, our clients include but are not limited to brokers, insurers, Lloyd’s of London syndicates, MGA’s and Coverholders.
At Padda Consulting everything is informed by our three core principles: commitment, collaboration and consultancy.
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