FCA Compliance for MGAs, Insurance Brokers & Intermediaries

Yes. We support MGAs across product governance, delegated authority arrangements, broker and distribution oversight, Consumer Duty, compliance monitoring and regulatory governance. Work can be delivered as a defined project, a specific workstream or on an ongoing retained basis alongside the firm's existing compliance resource.

Scope is set against the firm's permissions and business model. A typical review covers governance and oversight arrangements, the compliance monitoring programme, product governance and fair value evidence, distribution and delegated authority controls, Consumer Duty outcomes and monitoring, complaints handling and root cause analysis, financial promotions, vulnerable customer arrangements and regulatory reporting. Findings are prioritised by regulatory risk with a practical remediation plan.

PROD 4 allocates obligations by role rather than by firm type. A firm that has a decision-making role in designing or significantly adapting a product will generally have manufacturer obligations, including product approval, target market definition and fair value assessment. Distributors have their own obligations covering distribution arrangements, the information they obtain and share, and ensuring distribution is consistent with the identified target market. Where an MGA and an insurer share design decisions, co-manufacturer arrangements need to be documented.

Yes. The common gap is not the absence of a policy but the absence of evidence. We support outcome testing, fair value assessment methodology, distribution chain value considerations, management information design, the annual board assessment and remediation where monitoring identifies poor outcomes.

Yes. We review agency agreements and terms of business from a regulatory perspective, assess how regulatory responsibility is allocated in practice, test the oversight and monitoring applied to coverholders and brokers, and review the management information used to demonstrate control.

We provide senior regulatory support alongside a firm's existing arrangements. We do not automatically assume the role of an internal compliance officer or a senior management function. Where a firm needs sustained capacity, retained support can be structured around scheduled input, technical escalation and specific workstreams.

Yes. We help management understand the regulatory issue behind the request, organise and test the underlying evidence, draft a clear and accurate response, and where required design and oversee a credible remediation programme with follow-up testing.