BREXIT: Loss of passporting rights and negotiations outcomes will impact UK insurers in event of 'leave' vote, says expert

FOCUS: The UK's approach to insurance regulation is often at the more prescriptive end of the scale, making a mass roll-back of regulatory burdens unlikely should the country vote to leave the EU in June.

FCA to expand work with 'large incumbents' to enable innovation

The Financial Conduct Authority (FCA) is to work more closely with major banks and insurers to address barriers to innovation, the UK government has said.

Final salary schemes to be included in secondary annuity market

Annuity holders who purchased their policy with funds from a final salary pension scheme will be able to sell it through the planned secondary annuity market, the government has confirmed. 

FCA issues warning to advice firms on accepting hospitality from product providers

Financial advisers that accept invitations to sporting events, concerts or social events from product providers may be breaking conflict of interest rules, the Financial Conduct Authority (FCA) has warned.

Insurers are 'vulnerable' to cyber attacks, says regulatory body

Insurers are "vulnerable" to cyber attacks, the International Association of Insurance Supervisors (IAIS) has warned.

Post-Solvency II bulk annuity deal rush could push up pricing, says expert

Rothesay Life's acquisition of £6 billion worth of pension liabilities from Aegon's UK business is the latest example of an insurer adjusting to new EU level capital requirements by making changes to its business model, an expert has said.

Insurance coverage for data breach by 'malicious insider' will depend on policy wording, says expert

FOCUS: In the absence of specific wording, insurers may be able to reject claims arising out of deliberate data breaches by disaffected employees.

Singapore eases rules on EFT transactions

Some financial advisers in Singapore have been granted permission to directly invest in exchange-traded funds (EFTs) on behalf of their investor customers after the country's financial regulator relaxed its rules, The Business Times has reported.

All Solvency II firms should apply remuneration requirements in the same way, says UK regulator

All senior staff with "significant levels of responsibility" within large UK-regulated insurers should be subject to the same remuneration requirements, the Prudential Regulation Authority (PRA) has confirmed.

Final details released on retail banking key information documents

Final details have been released on the key information documents (KIDs) that financial institutions will have to produce for retail investors.

Affordable flood insurance scheme launched, but prevention efforts still required, says expert

The launch of an industry-backed scheme to ensure that homeowners in areas at risk of flooding can continue to obtain affordable home insurance does not absolve the UK government of responsibility for shoring up the country's flood defences, an expert has said.

FCA risk outlook highlights need for broader debate on cloud adoption in financial services, says expert

The Financial Conduct Authority's (FCA's) latest risk outlook has highlighted the need for a broader debate on the adoption of cloud services by financial services firms, an expert has said.

Focus on good culture and governance in financial services strengthened by senior management rules, says expert

The importance of financial firms having a good culture and governance framework in place is increased by the fact that senior staff can now be more easily held to account for failings, a financial regulation expert has said.