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The Financial Conduct Authority (FCA) has published quarterly consultation paper CP16/17 which consults on proposed miscellaneous amendments to its Handbook. Attention is drawn to proposals in Chapter 2 and sections 9.10-9.12 of Chapter 9 as these are particularly relevant to BIBA members’ businesses.
Chapter 2 of the paper proposes consequential amendments to the Insurance: Conduct of Business Sourcebook (ICOBS) and the Conduct of Business Sourcebook (COBS) in order to align the claims handling rules with the Insurance Act 2015 which comes into force on 12th August 2016. Chapter 9 proposes alterations to the regulatory reporting requirements set out in the Supervision Manual (SUP), in particular removing the need for fee-charging credit broking firms to fill in form CCR008.
Members may access the document by clicking here.
BIBA will be submitting a formal response to the FCA and members who would like their views to be considered in this process should send their comments to David Sparkes at sparkesd@biba.org.uk by close of business on Monday 22nd August 2016.
Comments may be sent by electronic submission to the FCA using the form on its website at www.the-fca.org.uk/cp16-17-response-form or by email to cp16-17@fca.org.uk by Thursday 1st September.
BIBA members’ compliance and regulation queries should be directed to: compliance@biba.org.uk
The post FCA consults to align claims handling rules with Insurance Act appeared first on British Insurance Brokers' Association.
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