Following concerns as to whether advantage was being taken of vulnerable consumers, the two leading UK insurance industry bodies have published a new Code of Practice on the treatment of vulnerable consumers on policy renewal. Chloe Dumoulin-Richet reports.
Pricing and risk profiling are just two of the areas potentially impacted by use of big data in connection with retail general insurance products such as motor and home insurance. Georgina Graham reports on the Financial Conduct Authority’s new investigation.
Following a fine for non-registration with ICO as a data controller, financial services call centre Help Direct UK were warned by ICO over numerous spam texts offering reviews of recipients’ pension arrangements. Barney Sich reports on ICO’s action.
Following consultation on a draft, the UK financial services watchdog has published the final version of its guidance on “Social media and Customer Communications.” Sadie Alo reports on the key takeaways for the financial promotions sector.
Following an attack by hackers, three million customer records were put at risk and details of 5,000 payment cards were compromised. Had PCIDSS rules for processing credit card data been adhered to? Chloe Deng reports on the ICO’s findings.
Misleading financial promotions can fall within the remit of both the Financial Conduct Authority and the Advertising Standards Authority. This MoU provides a framework for co-operation and co-ordination between the two bodies. Sadie Alo reports.
Alexander House Financial Services applied to register SMART ALEX for financial services. BinckBank N.V. challenged as they had registered ALEX for a wide variety of services in the same class. Could BinckBank knock back Alexander House’s application? Varuni Paranavitane reports.
Increasingly, financial services firms are using social platforms for customer communications and financial promotions. The FCA is consulting on draft guidance to clarify its regulatory approach in this area, with good and bad practice examples. Miah Ramanathan reports.
