The Financial Conduct Authority believes sharing more information on good practice and its expectations will benefit the industry and help drive better outcomes, according to Graeme Reynolds, director of competition.
At the Chartered Insurance Institute: Shaping the Future of Insurance conference, Reynolds told the audience that reducing the complexity of the FCA rulebook “could lower cost to firms, encourage innovation and help support the risk appetite needed to support growth”.
It would “ultimately boost international competitiveness and the economy over the longer term”, he set out.
Adding: “We’ll continue to do that but issuing that guidance in manageable chunks so you can all absorb it, think about what
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