This Practice Note provides an introduction to some of the regulatory responsibilities and contractual requirements that firms authorised by the Financial Conduct...
What is the Lloyd’s market? The Lloyd’s market is an insurance market, whose origins date back to the seventeenth century. Merchants would meet at Edward Lloyd’s coffee...
The Financial Conduct Authority (FCA) has statutory objectives which include the protection and enhancement of the integrity of the UK financial system. The integrity of...
FCA's Insurance Conduct of Business Sourcebook (ICOBS) contains the standards that apply to all non-investment insurance product sales (general insurance and protection...
On 7 March 2016, the Senior Managers and Certification Regime (SM&CR) replaced the Approved Persons Regime (APR) for UK banks, building societies, credit unions and...
STOP PRESS: The Senior Managers and Certification Regime (SM&CR) was extended to insurers regulated by the FCA and PRA from 10 December 2018, replacing the Senior...
From 1 April 2013, the PRA and the FCA replaced the FSA. From 1 April 2013, in addition to the need to identify which regulator is relevant to the firm's activities and...
This Practice Note discusses the main Financial Conduct Authority (FCA) provisions applying to appointed representatives (ARs) that carry out regulated activities on...
This Practice Note explains the process for the approval by authorised of financial promotions under section 21 of Financial Services and Markets Act 2000 (FSMA 2000)....
Background to the regulation of assisting in the administration and performance of insurance contracts Under section 19 of the Financial Services and Markets Act 2000...
In the UK, certain relationships and close ties that firms may have are considered to have the potential to affect the way in which a firm is run and could affect...
What is the financial promotion restriction? Under section 21 of the Financial Services and Markets Act 2000 (FSMA 2000), a person (A) must not, in the course of...
This Practice Note explains the rules for the cancellation of client agreements. The rules, which are contained in chapter 15 of the Financial Conduct Authority's (FCA)...
This Practice Note outlines the relevant legislative provisions stipulating the requirement to be authorised to provide financial services in the UK. The regulators may...
This Practice Note explains what direct offer financial promotions and cold calls are and which of the Financial Conduct Authority's (FCA) rules apply to them....
This Practice Note explains the regulatory rules for the use of performance information in client communications (contained in the Financial Conduct Authority (FCA)'s...
This Practice Note looks at key aspects of consumer protection within the UK financial services regulatory system. The UK’s regulatory structure, combined with...
This Practice Note explains the contractual requirements as between a firm—referred to as a principal—and its appointed representative (AR) under Chapter 12 of the...
Regulatory background to insurance The Financial Services and Markets Act 2000 (FSMA 2000) established a regulatory regime for the financial sector, including insurance....
BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...
Dealing as principal or as agent Authorised persons can obtain permission to deal in investments as principal, or as agent for another. Dealing in investments as...
Background to the regulated activities of effecting and carrying out contracts of insurance The regulation of carrying on insurance business in the UK dates back to 1870...
BREXIT: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...
BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...
This Practice Note provides an introduction to the exemptions and exclusions that apply in relation to the general prohibition contained in section 19 of the Financial...
BREXIT: The UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. To ensure the effective...
