The FCA has long-held concerns over the operation of the current appointed representative regime and whether it provides good outcomes for customers. This session provides an overview of these issues, as experienced by those within the insurance distribution chain and considers how best to navigate them, including:
- What are Appointed Representatives?
- Why is the FCA concerned?
- What changes were introduced in December 2022?
- Common issues encountered and how to approach them:
- Contractual rights
- Regulatory angles
- What next?
Learning Objectives
At the end of this session, delegates will be able to:
- Describe the appointed representatives regime and the relevant regulatory considerations
- Outline the FCA’s concerns about the appointed representatives regime and the measures it has put in place to address them
- List specific issues relevant to MGAs
- Summarise the FCA’s current views and options for future reform
About the Presenter
Rachel McDonnell
Rachel is a specialist dispute resolution lawyer and has been helping clients to resolve their disputes for over 15 years. She has extensive experience in high value corporate and commercial litigation, banking and financial services litigation, alternative dispute resolution (including mediation), and financial services contentious regulatory matters including enforcement proceedings and internal investigations.
Rachel supports clients in resolving complex commercial and corporate disputes, including unfair prejudice petitions, breach of warranty and indemnity claims, joint venture and shareholder disputes and various other high value contractual claims. Examples of Rachel’s recent financial services experience include:
i. representing a company defending a claim for USD300 million brought in the Commercial Court under several guarantees
ii. acting for the former Chief Executive of an IFA network before the Upper Tribunal in defence of Financial Conduct Authority enforcement proceedings
iii. representing various firms in defence of enforcement proceedings. Rachel also advises on wider remedial actions, including customer redress exercises. The Legal 500 refer to Rachel as being ‘commercially strong but always courteous’, and she is noted as ‘managing her clients and team effectively’ with ‘a broad practice which encompasses corporate, financial services and banking litigation work.’ You can connect with Rachel on LinkedIn here and you can view Rachel’s Mills & Reeve profile here.
