FCA
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The FCA’s CEO Nikhil Rathi said the regulator could disclose information on listed firms that miss diversity targets for the make-up of their boards.
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Plus a look at reinsurers’ cat budgets and all the top news from the week.
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The regulator said many firms will not be ready to meet the 1 October deadline for new product governance rules.
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The Financial Conduct Authority’s latest release on UK claims data for Covid-related BI losses shows the total number of claims is starting to stabilise.
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The regulator’s proposals also suggest there should be at least one senior board member from a non-white ethnic minority background at every listed firm.
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The regulator has responded to industry feedback with final changes to rules for SPAC listings, creating an easier path for firms taking this route.
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New CEO Nikhil Rathi says the watchdog will become “proactive, tough and agile”.
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The Financial Conduct Authority’s latest release on UK claims data for Covid-related BI losses shows an acceleration of acceptances during June.
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Hiscox leads with the largest number of accepted claims and interim payments, while MS Amlin lags on payment of data-supported claims.
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Insurers must put in place the majority of measures by 1 January 2022.
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The penalty comes after a Section 166 review into the Lloyd’s broker’s activities.
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The regulator extends its deadline from September after industry lobbying.
