Clifford Chance

FCA Business Plan

10 April 2014

The Financial Conduct Authority (FCA) has announced as part of its Business Plan for 2014/2015 a number of new thematic reviews (TR's) into the insurance industry and an indication of the timing of those reviews throughout the period:

General insurance and protection:
Commercial claims Q3 2014 – Q1 2015
Coverholder and distribution review on wholesale markets Q2 2014 – Q4 2014
Premium finance Q3 2014
Client money Q3 2014 - Q1 2015
Motor Legal expenses insurance* Q3 2014
Mobile Phone insurance* Q4 2014 – Q1 2015

Life and pensions:
Due diligence on retail investment advice Q3 2014 – Q1 2015
Sales practices on retirement Q1 2014 – Q2 2015
Fair treatment of long-standing customers Q2 2014 – Q4 2015
Governance of with-profits funds * Q4 2014 – Q3 2015

Marked with an * means that the FCA will ensure firms have embedded recommendations from earlier TR.

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