ABI has called for cooperation between the insurance industry and the financial regulators. Otto Thoresen, speaking at ABI’s event at which Martin Wheatley also spoke (see above), said ABI has identified six key themes for cooperation:
- making markets and regulation work to deliver public policy goals;
- a regulator that is in touch with the consumer experience;
- regulation focused on markets delivering products that meet consumer needs;
- facilitating effective competition and innovation in financial services;
- actively shaping FCA’s wider regulatory programme with the EU and the UK; and
- building mutual confidence and respect between FCA and the industry.
(Source: ABI Calls for Cooperation with FCA)