In September, the Law Commission (the Commission) presented its final report “Review of the Friendly Societies Acts 1974 and 1992” (the Report) and accompanying draft bill (the Bill) to parliament. The Report follows on from its consultation paper issued in March last year and contains its recommendations to simplify and modernise
Background
On 21 September 2026, the Financial Conduct Authority (FCA) published its findings (MS24/1.5) from its market study into the distribution of pure protection products to individual retail customers (the Final Report).
Launched in March 2025, the market study examined issues identified across the following areas in respect of critical
On 9 July 2026, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, AFM) issued a news update on the findings of an exploratory study of the online choice environment of platforms that offer embedded insurance.
The study shows that these environments often contain several elements that may encourage consumers to
On 27 July 2026, the Australian Treasury issued for consultation an exposure draft of regulations that extend the class exemptions to the deferred sales model (DSM) for add-on insurance until 2031. Furthermore, the Australian Treasury is seeking input on whether any new class exemptions should be granted.
Background
The DSM is set out
On 22 July 2026, the Prudential Regulation Authority (PRA) published Consultation Paper 12/26 – Insurance friendly societies, amalgamations and transfers (CP12/26), setting out proposed updates to Chapter 4 of Statement of Policy 3/15 (SoP3/15), which governs the PRA’s approach to amalgamations and transfers of engagements by friendly societies (
On 23 July 2026, the Financial Conduct Authority’s (FCA) new Director of Insurance, Chris Knight, set out the regulator’s expectations in relation to the management of conflicts of interest in vertically integrated insurance business models. This was accompanied by the FCA’s publication of new guidance for firms.
“Vertically integrated business model” refers
On 14 July, the PRA and FCA published consultation papers PRA CP11/26 – A tailored regime for captive insurance (PRA CP11/26) and CP26/29: A tailored regime for captive insurance (FCA CP26/29) setting out a proposed regulatory framework for captive insurance aimed at establishing the UK as “a centre for the fast-growing captive
On 7 July 2026, the Australian Prudential Regulation Authority (APRA) finalised its amendments to the general insurance (GI) reinsurance framework.
Background
The final changes are set out in APRA’s response paper following two rounds of consultation that took place in November 2024 and October 2025. The purpose of the reforms are
The Senate has adopted the amendment to the bonus cap on 19 May 2026. This update outlines the key changes introduced by the amendment, including its impact on identified staff and the broader remuneration framework within the financial sector.
We also highlight practical steps that financial institutions may wish to consider in light of these