FCA sends out warning on new product guidance readiness

The Financial Conduct Authority (FCA) has today (25 August) sent out a warning message to the protection and general insurance market over industry readiness for enhanced product governance rules coming into effect on 1 October. As part of its focus on improving fair customer value, the FCA reviewed the progress made so far by the industry, finding that some firms had made good progress in meeting existing rules and guidance on product governance and value, issued in 2018 and 2019. This was also the case against temporary guidance on product value, issued in response to Covid-19 last ...