FCA considering how to reduce regulatory burden on brokers

"We could simplify things for everyone"

Jaskeet Briah
clock • 4 min read

The Financial Conduct Authority (FCA) is considering where it can reduce the regulatory burden on brokers when it comes to enforcing Consumer Duty.

Speaking at The British Insurance Brokers' Association (BIBA) conference on 16 May, Emily Shepperd, chief operating officer, FCA, said the regulator has been engaging with the industry to consider a series of changes. This includes how the FCA might make changes to reflect the operation and customer base of the insurance market, give greater clarity on the regulator's expectations, avoid duplication and reduce the burden of regulation where appropriate. "We won't do anything that will risk the essential protections that our rules provide for consumers and SMEs. But we do think we coul...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

FCA records more than 300 whistleblowing cases in Q2 2025

FCA records more than 300 whistleblowing cases in Q2 2025

98 allegations for Consumer Duty

Patrick Brusnahan
clock 15 August 2025 • 1 min read
FOS records fall in complaints cases

FOS records fall in complaints cases

Less than 10 complaints for income protection

Isabel Baxter
clock 07 August 2025 • 3 min read
Disability and access ambassador for insurance appointed by Government

Disability and access ambassador for insurance appointed by Government

Replaces Zurich’s Peter Hamilton

Jaskeet Briah
clock 06 August 2025 • 3 min read