Financial Conduct Authority

Auto-enrolment will be a positive for life insurers but the FSA break-up will likely stifle business, an actuarial consultant has said.

Uncertainty around what the incoming Financial Conduct Authority (FCA) wants from the broking industry is causing the greatest concern in the market and greater clarity must be given before damage is done.

The regulator has set out the circumstances under which the new Financial Conduct Authority (FCA) will exercise its temporary product intervention powers.

The Financial Services Authority (FSA) has told banks the new regulatory system will push them to weed out potentially harmful products and demand they pay particular attention to treating customers fairly.

The Financial Services Consumer Panel (FSCP) said it is "unreasonable" to expect consumers to understand complex financial products and services.

Greg Becker fears the RDR may worsen consumer detriment as fewer people seek advice.

The Financial Services Consumer Panel has called for the new Financial Conduct Authority (FCA) to be given full responsibility for the regulation of retail financial services, including consumer credit.

The British Insurance Brokers' Association (Biba) and the Institute of Insurance Brokers (IIB) have called for regulatory barriers to be lowered and for the current inappropriate style and intensity of regulation to be reformed.

Can you see a change in focus for the FSA's replacement, following its renaming to the Financial Conduct Authority (FCA), rather than the previously suggested Consumer Protection and Markets Authority (CPMA)?