PIMFA Online Learning Events

Clearstep Consulting are running two events for PIMFA in December 2020 and January 2021. They are open to members and non-members.

Please click on the links below to find out more and register:

T&C Networker Meeting – Wednesday 30th September 2020

At the end of September Clearstep Consulting hosted a T&C Networker meeting with T&C professionals from across the industry.

It was a great opportunity to discuss how  T&C frameworks have changed over the last 6 months in light of Co-vid and the management of the new people risks arising from working from home.

Also on the agenda was the training and competency of staff dealing with vulnerable customers and the approach to client remediation.

FCA publishes Consultation Paper CP18/26 on applying SM&CR to Claims Management Companies

On the 1st April 2019 the FCA will become the regulator of claims management companies (CMCs). At the same time the Financial Ombudsman Service will become responsible for resolving disputes about CMCs.

The FCA is now consulting on how the Senior Managers and Certification Regime (SM&CR) will apply to CMCs. The consultation paper sets out the proposed rules about when SM&CR may apply to CMCs and what action firms will need to take.

There is also a consultation ongoing with regards what fees the FCA proposes to charge CMCs.

Please click here for:

FCA consultation paper – SM&CR for CMCs  https://www.fca.org.uk/publication/consultation/cp18-26.pdf

FCA consultation paper – Fees for CMCs https://www.fca.org.uk/publication/consultation/cp18-23.pdf

FCA support website page for CMCs https://www.fca.org.uk/firms/claims-management-companies

Are you ready for the 1st October 2018?

Don’t forget from October 1st 2018 anyone involved in the distribution of insurance products will be expected to complete a minimum of 15 hours CPD a year in specific core areas related to their activities.

Support and guidance relating to this and the other regulatory requirements for firms designing and selling insurance products can be found on the FCA’s dedicated Insurance Distribution Directive page:



FCA Publishes Policy Statement PS17/21 – Insurance Distribution Directive Near Final Rules

This Policy Statement from the FCA provides their response to the feedback received to CP 17/7 on the IDD. It also sets out the near-final rules with regards application, professional requirements, complaints handling and ICOB. For those with responsibility for T&C, please note it introduces the completion of 15 hours CPD each year for relevant staff, some of whom might be Retail Investment Advisers where the 35 hours composition has changed.

Firms are required to comply with these new rules by 23 February 2018. Please click here for:

FCA Policy Statement https://www.fca.org.uk/publication/policy/ps17-21.pdf

IDD – What’s it all about https://www.trailight.co.uk/idd-whats-it-all-about/#more-544