Regulation

Representatives of the European insurance industry have written to the European Commissioner for the Internal Market and Services, Michel Barnier, to ensure that the "overly conservative and prescriptive" elements it believes are contained in the draft...

Former financial services secretary Lord Myners has called for a review into the minimum capital requirements for IFAs not holding client money.

The ABI has given its backing to the Treasury's simplified products proposal and highlighted the need for a government supported replacement to payment protection insurance (PPI).

The Competition Commission (CC) has confirmed the banning of payment protection insurance (PPI) sales at the point of credit sale for seven days and introduced a wide range of rules governing the product.

The Association of British Insurers has questioned the Insurance and Occupational Pensions Authority's decision to schedule a stress test during the implementation of Solvency II.

The proposed new regulatory structure is the industry's "worst nightmare", according to a respected regulation and insurance lawyer.

The FSA will spend £100m implementing EU-wide insurance regulation Solvency II, which is "towards the low end" of original estimates but excludes "considerable" direct costs to the UK industry, FSA CEO Hector Sants says.

The FSA is consulting on exempting Holloway products from RDR fee-based payments, but the devil is in the detail as the exemption would not apply to all products.

The British Insurance Brokers' Association (BIBA) has outlined its priority lobbying issues for the year ahead.

Cirencester friendly has called on the government to play its part in supporting simple financial products by publicising those that already exist.