Consultation Responses

2025 Consultation Responses

AFM responds to a range of consultations from regulators and other policymakers. We concentrate on proposals that are likely to have a material affect on our members or on the mutual business model.

You can view AFM’s responses by clicking on the links below:

• AFM response to FCA and FOS Call for Input, Modernising the Redress System
• AFM response to HMT Consultation, Captive Insurance
• AFM response to Treasury Committee Call for Evidence, Lifetime ISAs
• AFM response to FRC Consultation, UK Stewardship Code

2024 Consultation Responses

• AFM response to FCA Call For Input Requirements post Consumer Duty
• AFM response to FCA MS24,1.1, Pure Protection
• AFM response to DP24, Regulation of commercial insurance
• AFM response to PRA cp6-24, Solvency 2 review
• AFM response to DBT on simpler corporate reporting
• AFM response to HMT on UK ISA consultation
• AFM Response to HMRC Consultation on CRS Amendments May 2024
• AFM response to FCA, CP24-6, regulatory fees and levies
• AFM response to FCA, CP24-2, enforcement guide
• AFM response to PRA, CP2-24, solvent exit planning for insurers
• AFM response to PRA, CP27-23, approach to policy
• AFM response to FCA, closing the advice gap
• AFM response to FCA, guidance on anti-greenwashing
• AFM response, call for evidence regulatory landscape

2023 Consultation Responses

• AFM response to FCA, CP23-20, D&I
• AFM response to PRA, CP18-23, D&I
• AFM response to HMT consultation on Occupational Health
• AFM response to PRA on review of rules, CP11-23
• AFM response to FCA on FRF- Insurance Distribution Directive
• AFM response to FCA on Quarterly Consultation 41
• AFM response to FCA on financial promotions on social media
• AFM response to FRC on UKCG Code consultation
• AFM response to PRA on review of Solvency 2, CP12-23
• AI regulation white paper (submitted online; Word version for reference)
• AFM response to PRA and FCA on SMCR
• AFM response to Treasury call for evidence on SMCR
• AFM response to PRA on regulated fees, 2023-24
• AFM response to FCA on regulated fees, 2023-24
• AFM response to FCA on finance for positive sustainable change
• AFM response to PRA review of Solvency 2- reporting phase 2
• AFM response to FCA on support of customers in financial difficulties
• AFM response to HMT PRIIPS consultation
• AFM response to FRC on competition in audit
• AFM response to FCA on broadening access to advice
• AFM response to PRA on AI and machine learning

2022 Consultation Responses

• AFM response to PRA on operational resilience
• AFM response to FOS future funding model
• AFM response to HMT on review of Solvency 2
• AFM response to PRA on review of Solvency 2, 180722
• AFM response to PRA fees and levies proposals
• AFM response to FCA, appointed reps review
• AFM response to FCA compensation framework review
• AFM response to HMT on future regulatory framework
• AFM response to FCA Consumer Duty, CP21,36
• AFM response to FCA fees and levies proposals
• AFM response to FOS plans and budget
• AFM response to MoJ, small payments scheme

AFM has also published overviews of significant regulatory developments:

• Solvency 2, 0522
• Consumer Duty

2021 Consultation Responses

• AFM response to PRA CP16,21, insurance business transfers
• AFM response to CP11,21, review of Solvency 2- reporting
• AFM response to CP21,23 PRIIPS
• AFM response to DP2,21, diversity and inclusion
• AFM response to CP21-17, enhancing climate related disclosures
• AFM response to GC21-3, Part VII transfers
• AFM response to FCA on Consumer Duty, 0721
• AFM response on strong and simple framework, 0721
• AFM response to BEIS on audit reform, 0721
• AFM response to PRA on fees and levies 2021-22
• AFM response to FCA on fees and levies 2021-22
• AFM response to BEIS on implementation of the EU audit directive (online survey)
• AFM response to BEIS on climate disclosure
• AFM response to HMT on Solvency 2 review
• AFM response to HMT on Future Regulatory Framework
• AFM response to FCA on GI pricing practices

2020 Consultation Responses

• AFM response to FCA on The Consumer Investments Market
• AFM response to HMT on financial promotions consultation
• AFM response to FCA on guidance for customers in financial difficulty
• AFM response to FCA GC20-3, vulnerable customers
• Response to DCMS/ HMT on expanding dormant assets scheme
• Response to FCA CP20/6, regulated fees
• Response to FCA guidance consultation on payment deferment
• Response to FCA guidance consultation on product value
• Response to FCA on Open Finance
• Response to PRA on insurance data release
• Response to FOS on 20-21 plan and budget
• Response to HMRC on 5MLD and TRS

2019 Consultation Responses

• AFM response to FCA on GI pricing practices
• Response to DCMS on the future definition of public service mutuals
• Response to FCA on the fair treatment of vulnerable customers
• Response to FOS on its future funding proposals
• Response to HMRC on maturing Child Trust Funds
• AFM response to HMRC on the operation of IPT
• AFM response to FCA CP on IGCs
• Response to FCA on framework for effective stewardship
• Response to FCA on general insurance value measures reporting
• Response to FCA on proposals to improve shareholder engagement
• Response to DHSC on appropriate clinical negligence cover
• Response to CMA on Statutory Audit Market Study

2018 Consultation Responses

• Response to PRA on managing the financial risks of climate change
• Response to FCA on fees and levies for 2019/20
• Response to PRA on fees and levies for 2019/20
• Response to FCA on increased limits for FOS
• Response to FCA on a duty of care
• Response to FRC on corporate governance code for private companies
• Response to FCA documents on approach to supervision and enforcement
• Response to PRA CP8/18 on audit of the SFCR
• Response to PRA CP2/18 on regulatory reporting
• Response to FCA paper on its approach to competition
• Response to FRC on revisions to the UK corporate governance code
• Response to FCA paper ‘Our future approach to consumers’
• AFM response to consultation on FSCS funding
  

2017 Consultation Responses

• AFM response to FCA CP17/33, Implementing the IDD (3)
• AFM response to FCA occasional paper on the Ageing Population and Financial Services
• AFM response to PRA CP14/17, extension of SM&CR to insurers
• AFM response to FCA CP17/25, extending SM&CR to insurers
• AFM response to PRA CP16/17, regulatory fees and levies
• AFM response to FCA CP17/23, IDD implementation (2)
• AFM response to FCA CP17/32, Quarterly consultation
• AFM response to FCA consultation on asset management remedies
• AFM response to PRA consultation on optimisations to SIMR, CP8/17
• AFM response to EIOPA on advice to the European Commission on the Solvency 2 Directive
• AFM response to FCA on IDD implementation 1
• AFM response to EIOPA consultation 17-001, on Insurance-Based Investment Products under IDD
• AFM response to FCA consultation on FSCS funding
• AFM response to government Green Paper on Improving Lives
• AFM response to BEIS green paper on Corporate Governance
• AFM response to FCA Mission

For copies of responses to consultations before 2017, please contact [email protected]