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flag The FCA replaced 40+ portfolio letters with nine annual sector-specific reports to simplify compliance, starting with insurance, focusing on claims, AI in underwriting, and captive insurers.

flag The FCA has replaced over 40 portfolio letters with nine annual sector-specific Regulatory Priorities reports to simplify compliance and improve clarity for firms, starting with insurance. flag The new reports aim to reduce regulatory burden, enhance consumer outcomes, and support market growth by focusing on claims handling, AI in underwriting, and tailored rules for captive insurers. flag The FCA is also reviewing funeral plan regulations and strengthening financial crime controls, emphasizing a smarter, proportionate approach that allows faster intervention when needed.

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