BBA – PPI and complaints handling »
The BBA have published a press release stating "The
BBA's members will continue to handle all PPI-related
complaints in accordance with FSA rules. Where the assessment of
the complaint would not be affected by the judicial review, these
complaints will be handled in the normal way. If your complaint
will be impacted by the judicial review, and cannot be resolved at
this point, then your bank will write to inform you.
BIBA responds to proposals for change to the regulatory framework »
The British Insurance Brokers' Association (BIBA) has
demanded a more proportionate and cost effective regulatory regime
for the insurance intermediary community in its formal response to
the HM Treasury consultation paper on a new approach to regulation.
BIBA prepared and submitted a formal two-part response to the
consultation which was based on the comments of a cross-section of
FSA launches regulatory fees and levies discussion for 2011/12(CP10/24) »
The Financial Services Authority (FSA) has issued Consultation
Paper CP10/24, entitled '
Regulatory Fees and levies - policy proposals for
2011/12', which sets out a number of changes affecting
certain firms under the FSA, the Financial Ombudsman Services and
the Consumer Financial Education Body.
FSA announces chairman of new consumer education body »
The FSA has appointed Gerard Lemos as chairman of the Consumer
Financial Education Body (CFEB). Lemos is a partner at social
researchers Lemos & Crane where he leads the research team.
FSA granted new consumer redress power »
The FSA has been granted a new power to deliver prompt and
effective redress for consumers from firms that have not followed
its rules. The new power will be used in instances when there is
evidence of widespread or regular failings that have caused
consumer detriment. It is a rule making power, so the FSA must
undertake cost-benefit analysis and consult each time it wants to
establish a redress scheme.
FSA bans broker for overcharging »
The FSA banned Paul Cable, director of Media and Entertainment
Insurance Services Limited, from acting as an approved person for
at least two years for attempting to overcharge a client by
£89,000. The FSA has also cancelled Media and Entertainment
Insurance Services Limited's permission to undertake any
Should Section 22 of the Marine Insurance Act be repealed? »
The Law Commission has issued the last of its issues paper for
2010 in its project to reform insurance contract law. Issues paper
9 looks at whether there is still a need for formal
"policies" in marine insurance.