Regulatory framework

Regulatory framework guidance:

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...

Practice Note

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...

Practice Note

On 1 April 2013, the Financial Services Authority (FSA) Handbook was split between the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) to...

Practice Note

Who can issue individual guidance? The FCA has a power to issue individual guidance. The PRA was not given equivalent statutory powers in Part 9A of FSMA 2000, however,...

Practice Note

The FCA's approach to supervising firms According to SUP 1A.1.4 G, the Financial Conduct Authority (FCA)'s regulatory approach aims to focus and reinforce the...

Practice Note

Treating Customers Fairly (TCF) is a principles-based initiative. Under the regulatory regime authorised firms must pay due regard to the interests of their customers and...

Practice Note

The Principles for Businesses—Principle 6 The Financial Conduct Authority's (FCA) Principles for Businesses are a general statement of the fundamental obligations of...

Practice Note

FCA and corporate governance Under the Financial Services and Markets Act 2000 (FSMA 2000) the FCA acquired responsibility for a broad and diverse range of regulated...

Practice Note

This Practice Note explains the Principles for Businesses (PRIN) set down by the Financial Conduct Authority (FCA). The Principles form part of the FCA’s High Level...

Practice Note

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...

Practice Note

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...

Practice Note

Although already in the business of preparing for the worst, the insurance sector is one of many that now finds itself looking ahead to challenges if the UK leaves the EU...

Practice Note

On 29 August 2015, the Prudential Regulation Authority (PRA) published the PRA Rulebook (Rulebook). The transition from the Handbook to the Rulebook was intended to...

Practice Note

Background to the Fundamental Rules Prior to the creation of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in 2013, the predecessor...

Practice Note

The PRA's strategy The PRA and the BoE Until 1 March 2017, the Prudential Regulation Authority (PRA), was a subsidiary company of the Bank of England (BoE) delivering...

Practice Note

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...

Practice Note

Background Financial conglomerates are large groups with significant activities in more than one financial sector (banking, investment, insurance). They tend to be...

Practice Note

The Financial Conduct Authority (FCA) and the Competition and Markets Authority (CMA) have the power, under the Consumer Rights Act 2015 (CRA 2015) (which came into force...

Practice Note

What is a friendly society? There has been a system of registration, and with it regulation, of friendly societies since the enactment of the first Friendly Societies Act...

Practice Note

Training and competence—appropriate examination standards The Financial Conduct Authority (FCA) Training and Competence Sourcebook (TC) requires individuals to attain the...

Practice Note
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