FCA to simplify insurance rules

The regulator aims to "support growth and innovation" by reducing regulatory requirements whilst keeping appropriate consumer protections in place. The simplifications include: Being able to appoint a lead firm to take on product manufacturer responsibilities The removal of the 12-month minimum frequency requirement in PROD 4 for product reviews Removal of rules requiring firms to notify the FCA if they are conducting employers' liability business Removal of the prescribed annual 15-hour continuing professional development (CPD) requirement for insurance The regulator has ...