FCA launches Simplifying Insurance Rules consultation

The consultation forms part of the regulator's aim to "streamline rules and reduce complexity for firms", according to a statement. It also comes alongside a consultation on the application of the Consumer Duty to businesses with non-UK customers. The consultation focuses on five key areas: Narrowing the scope of FCA rules for non-UK business Removing unnecessary disclosure requirements Increasing flexibility in means of disclosure Simplifying rules for advised sales of insurance products Amending rules for professional indemnity insurance (PII) Cormac Bradley, senior ac...