On 5 August 2010, the Financial Regulator (FR) published the findings of its themed inspection of life insurance firms' compliance with minimum competency requirements (MCR), carried out earlier this year. The inspection focused on compliance with grandfathering requirements and with the requirement to maintain a register of accredited individuals. For the most part, it found that firms were compliant. Life insurance firms have been notified of the findings, on foot of which a number of recommendations have been made by the FR. These include that firms must ensure (1) that grandfathered individuals have experience relevant to their role; (2) ongoing compliance with continuing professional development requirements by staff; and (3) that registers of accredited individuals are kept updated. The findings have been incorporated in the FR's recently opened consultation on MCR.