The Financial Conduct Authority has launched its consultation for Simplifying Insurance Rules, including looking at the rules for advised sales of insurance products.
The consultation forms part of the regulator's aim to "streamline rules and reduce complexity for firms", according to a statement. It also comes alongside a consultation on the application of the Consumer Duty to businesses with non-UK customers. The consultation focuses on five key areas: Narrowing the scope of FCA rules for non-UK business Removing unnecessary disclosure requirements Increasing flexibility in means of disclosure Simplifying rules for advised sales of insurance products Amending rules for professional indemnity insurance (PII) Broadstone senior actuari...
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