Third party insurance claims settling not VAT exempt, CJEU rules

Insurance claims settlement services which are outsourced to a third party are subject to VAT, even where these services are provided "in the name and on behalf of" the insurer, the EU's highest court has ruled.

Budget 2016: chancellor's plans give financial firms opportunity to develop guidance solutions, says expert

Plans to reform the way public financial guidance is delivered in the UK could present new opportunities to financial firms to develop their financial guidance tools, an expert has said.

Uncertainty over UK implementation of PSD2 is stifling innovation, businesses warn

Uncertainty over the way the UK will implement the updated EU Payment Services Directive (PSD2) is stifling innovation, businesses have warned.

Major UK insurers have big 'big data' plans for 2016

More than three quarters of the UK's biggest insurers instead to give more focus to the way they use data this year, according to new research.

Life insurance exit fees for long-standing customers need further review, says regulator

The Financial Conduct Authority (FCA) is to further review charges paid by long-standing customers of six life insurance providers in order to ensure that those customers are being treated "fairly".

Hong Kong must embrace fintech or risk losing its status as a major global financial services hub, says expert

Hong Kong must embrace the revolution in financial technology or risk losing its status as one of foremost centres for financial services in the world, an expert has said.

FCA to pilot comparable insurance claim 'scorecards'

The UK's Financial Conduct Authority (FCA) is to publish data on insurers' claim acceptance rates and average payouts, as part of a "pilot" aimed at making it easier for consumers to compare products and firms.