Eight changes the FCA has made in response to the Davis report

Carmen Reichman
clock •

The Financial Conduct Authority (FCA) said it has overhauled its systems and processes after it was found to have been "seriously inadequate" in its response to a media blunder earlier this year.

The Davis report, an inquiry into the FCA's handling of a media briefing on its review of long-term insurance contracts earlier in the year, recommended the regulator change its systems, processes and ways of working across seven areas. In March, FCA director of long-term savings and investments Nick Poyntz-Wright briefed a Telegraph journalist on details of its soon-to-be-announced supervisory probe into the treatment of "long-standing" customers in insurance contracts. The FCA explained its remarks and the scope of the review only days later, sending life insurers' shares tumbling i...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA annual meeting dominated by whistleblower handling criticism

FCA annual meeting dominated by whistleblower handling criticism

After the death of Simon Andriesz

Alex Sebastian
clock 07 October 2026 • 3 min read
FCA secures money back for victims of £1.5m crypto fraud

FCA secures money back for victims of £1.5m crypto fraud

Obtains confiscation orders against Raymondip Bedi and Patrick Mavanga

Sophia Panayi
clock 28 September 2026 • 1 min read
FOS partially upholds complaint against SJP for failing to provide annual reviews

FOS partially upholds complaint against SJP for failing to provide annual reviews

SJP failed to provide five annual reviews for client

Sophia Panayi
clock 23 September 2026 • 3 min read