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LEGAL UPDATE: The UK's Financial Conduct Authority (FCA) has published proposed changes to its rules to accommodate the Insurance Distribution Directive (IDD), which will come into force on 23 February 2018. 29 Mar 2017
Banks operating in the EU will be able to verify the identity of customers and carry out due diligence checks on a wholly digitised and cross-border basis under plans outlined by the European Commission. 24 Mar 2017
Part VII of the 2000 Financial Services and Markets Act (FSMA) sets out the statutory mechanism allowing insurers and reinsurers to transfer portfolios of insurance business from one entity to another, subject to court approval.
On 1 April 2015, UK financial regulators the Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) gained new competition law powers, which they can exercise concurrently with the Competition and Markets Authority (CMA).
The EU's Solvency II Directive came into force on 1 January 2016. The directive consolidates and harmonises existing EU insurance directives including life and non-life directives, the reinsurance directive and various others.
Retailers are expected to protect anyone who enters their premises from harm, by removing or controlling risks to employees, volunteers, contractors or members of the public.
The 2015 Insurance Act (2015 Act) applies to all commercial contracts of insurance, and variations to existing contracts of insurance, from 12 August 2016 and introduces what the UK government has described as “the biggest reform to insurance contract...
New rules will apply when insurers outsource "critical or important operation functions or activities" once the Solvency II regulatory regime comes into force on 1 January 2016. This short guide will provide a brief overview of the requirements, as well as...
ANALYSIS: The Financial Conduct Authority (FCA) has provided some useful clarity on its implementation proposals for the Insurance Distribution Directive (IDD) in the UK in the first of two consultation papers . 08 Mar 2017
Financial firms will need to make sure they have sufficient resource in place to meet the expected increase in complaints relating to mis-sold payment protection insurance (PPI) ahead of an August 2019 deadline, an expert has said. 03 Mar 2017
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