The Financial Conduct Authority is looking at what rules can be stripped out following Consumer Duty and if fair value assessments need to be every year.
Matt Brewis, director of insurance at the FCA told delegates this at the Association of British Insurers’ annual conference yesterday.
In the session Growing Pains – how regulators and industry can work together to address the challenges to growth and competitiveness, Brewis said the regulator has asked for input on the Consumer Duty and is looking at what are the rules it can be removed.
We will be consulting on whether or not we should do them less frequently.
The watchdog previously launched a
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