Regulatory Alerts2023-08-31
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CP23/18: Quarterly Consultation Paper No. 41
The Financial Conduct Authority proposes amendments to simplify employers’ liability insurance rules by allowing tracing offices to obtain Employer Reference Numbers directly from HMRC, thereby reducing regulatory duplication for insurers. The regulator also seeks to clarify the interaction between the Supervision manual and MIPRU to ensure principal firms maintain continuous professional indemnity insurance for their appointed representatives. These changes aim to improve data accuracy for claimants while removing unnecessary costs and ambiguities in the regulatory framework.
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