Regulatory framework

The Financial Conduct Authority

The FCA is the conduct regulator for (re)insurers.

Under the Financial Services and Markets Act 2000 (FSMA 2000), the FCA acquired responsibility for a broad range of regulated activities. Its role includes rule making, issuing codes, giving general guidance, determining general policy and principles, and enforcement. For more information about the FCA, see Practice Notes: Financial Conduct Authority—functions, Financial Conduct Authority—objectives and powers and FCA—corporate governance, structure and constitution.

The FCA Handbook sets out the FCA’s rules and other provisions made under powers vested in it pursuant to FSMA 2000. These include:

1. •

   high level standards

2. •

   prudential standards

3. •

   business standards

4. •

   regulatory processes

5. •

   redress

6. •

   handbook guides

7. •

   regulatory guides and

8. •

   a glossary

For further information about the FCA Handbook, see Practice Note: FCA Handbook—introduction for the insurance and reinsurance sector.

The FCA’s Principles of Businesses (PRIN)