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  • Insurance News, Articles and Resources

    Our experts deliver compelling insights on recent trends and best practices in managing insurance compliance and you can quickly find expert commentary and compliance insights into the issues that impact your daily work as well as the industry overall.

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    The Truth about Member Litigation; Should DC Pension Trustees be Concerned in 2018?
    (Published January 30, 2018) Whilst there have been a number of significant developments in the area of Defined Contribution (DC) pension scheme regulations over the past few years in the U.K., one theme that has emerged in the U.S.A. is that of pension scheme members taking legal action, primarily against the sponsoring employers, but in some cases, advisers too. However, this activity appears not to be linked to returns from the pension funds failing to meet members’ expectations, as you might expect. Martyn Oughton comments on this.
    Gulf between U.K.'s PRA and insurance industry over Solvency II – but there could be less paperwork
    (Published January 11, 2018) The shadow of Brexit looms large over U.K.’s giant insurance industry as it continues to labour with the complexities – some of them unnecessary, according to critics -- of the massive exercise known as Solvency II. Selwyn Parker comments.
    The Bluefin U.K. FCA Final Notice – a sad example of the demise of the better than best rule
    (Published January 11, 2018) In the early days of modern financial services regulation, regulators insisted that independent financial advisers owned by product providers could only recommend their owners products if they could prove that these were better than the best alternatives in the market. This month’s Bluefin Insurance Services Limited fine suggests that it might not be a bad idea to restore the old pre-2001 position and extend it to general insurance and mortgages. Adam Samuel reports on this.
    EU regulatory round-up for 2017 and 2018
    (Published January 11, 2018) The key regulatory developments that took place in the E.U. financial services sector in 2017, and what is in store for 2018, are summarised here by Michael Imeson.
    London brokers under regulatory scrutiny
    (Published January 10, 2018) Brokers in the London insurance market are the subject of a study by the FCA to see whether action is needed to deal with anti-competitive behaviour, abuses of market power and conflicts of interest, writes Michael Imeson.
    The regulatory story of 2017 into 2018: To a trinity and beyond!
    (Published January 10, 2018) 2017 has been a year of much regulatory change as economic, political and social circumstances, with events at both the national and international levels shaping the focus or impetus towards certain risk issues and topical concerns. This has reflected the clear and perceived impact(s), potential harm(s) or vulnerabilities being posed to financial markets, systems and/or their users and participants.
    The Morning Risk Report: Banks More Anxious About Managing Risk Entering 2018
    (Published December 2017) Citing results from Wolters Kluwer’s annual Regulatory and Risk Management Indicator survey of 608 financial institutions, the Wall Street Journal reports that the majority of bank and credit union respondents are anxious about their ability to keep up with continuing regulatory compliance pressures in 2018.
    The structural and cultural heart-and-mind of an organisation
    (Published December 18, 2017) The U.K. conduct regulator (FCA) published towards the end of October 2017 a useful synopsis covering the purpose and scope behind its anticipated strategic review of retail banking as a core area of the U.K. financial industry. This builds on a programme of work first launched much earlier in 2017, and will look particularly at the business-modelling systems and practices that can underpin business objectives and planning. The latest element of its work is expected to provide a basis for establishing a judgemental insight behind the current commercial aims, motivations and strategic decisions, as well as the consumer impacts and consequences underpinning the way banking organisations presently think, operate and are indeed developing in both a regulated and competitive environment. Steve Blackbourn takes a closer look.
    Berkeley Burke, FOS and the nature of judicial merits review of the Ombudsman
    (Published December 18, 2017) The 21-paragraph judgement of Mr Justice Teare in Berkeley Burke Sipp Administration LLM v. Wayne Charlton "& Anor” is one of more fascinating court decisions on the operation of the Financial Ombudsman Service and Ombudsmanning in general. Barely concealed, the judgement also holds insights about pensions and product governance that large numbers of firms will need to pay attention to, particularly with the arrival in 2018 of PROD, the new rulebook on product governance. Adam Samuel reports.
    Top Bank Risks in 2018
    (Published December 15, 2017) From regulatory uncertainty to workforce management challenges, risks and their impacts are more interconnected than ever before. In this ABA Banking Journal article, Wolters Kluwer experts Will Newcomer and Barbara Boccia weigh in on the top bank risks in 2018.
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