Insurers review conduct risk as FCA targets mis-selling
The UK Financial Conduct Authority has caused a stir among insurers with two reports published this year, setting out its tough – and unique – approach to regulating the industry. Rob Mannix reports on how firms are reviewing their approach to conduct risk in response
The UK’s conduct regulator has been at the centre of recent controversy after leaked information about an industry review caused a fall in UK insurance shares, leading to admonition from politicians and the industry. Yet a quiet revolution in the intellectual approach of the Financial Conduct Authority (FCA) might prove a more profound influence on insurers in the longer term.
Two recent reports from the FCA give the first indications since its creation in 2013 of how the regulator will apply
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