In December 2025, the FCA published its Quarterly Consultation Paper No. 42 (CP25/24), proposing to decommission a number of regulatory returns submitted by general insurance intermediaries. While the proposals reduce duplicative reporting, firms will still be expected to maintain robust internal MI and governance to demonstrate fair value and good customer outcomes under the Consumer Duty.
In December 2025, the FCA published Consultation Paper CP25/37, setting out targeted proposals to simplify elements of the product governance framework for insurance and funeral plan providers. While framed as simplification, the proposals reinforce that expectations around value, oversight and customer outcomes under the Consumer Duty remain firmly in place.
The December 2025 Regulatory Initiatives Grid sets out a demanding regulatory agenda for UK insurers over the next two years. From Solvency II reporting and liquidity reforms to Consumer Duty simplification, stress testing and a new captive insurance regime, firms now have a clear window to assess priorities, Board MI and forward compliance planning.
The FCA has finalised a series of rule simplifications for insurers and intermediaries, offering new flexibilities across product governance, CPD, EL reporting and commercial client classification. But with greater freedom comes greater emphasis on judgement, documentation and Consumer Duty outcomes. Discover what’s changed, what hasn’t, and how firms can adopt the new model with confidence.
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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