General and tools

Consumer duties

Right now, the Financial Conduct Authority is putting the finishing touches to its new Consumer Duty. As we count down to the launch of the new rules and guidance, we wanted to understand what advisers think about the forthcoming changes and how they plan to adjust their existing business practices. 

In our latest research, you can find what advisers are saying about the Duty – along with answers to these key questions:

The new Consumer Duty is fast approaching. Our webinar will explore the key changes as well as the tools and support we offer to help you get ready.

Insurance Distribution Directive

The Insurance Distribution Directive (IDD) came into force in October 2018 and introduced a number of new obligations that firms involved in the designing and selling of insurance products need to meet.

Protection plans and HMRC’s Trust Registration Service – briefing note

From 6 October 2020, The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 introduced a new requirement for certain express trusts to be registered on HMRC’s Trust Registration Service even where the trust does not have a current tax liability. Any trust that has a current tax liability already needs to be registered.

Power of attorney

Powers of attorney are a valuable tool that helps vulnerable people have their affairs managed before or when they have lost mental capacity.

The following guides help people who work in regulated markets learn about:

  • Lasting powers of attorney (LPAs)
  • Enduring powers of attorney (EPAs)
  • Deputy court orders

There are different laws and processes in England and Wales, Scotland and Northern Ireland.

England and Wales

The following guide only covers powers of attorney registered in England and Wales and court orders issued in England and Wales.

Office of the Public Guardian (OPG18)

Scotland

For information about powers of attorney in Scotland

Public Guardian - Scotland

Northern Ireland

For information about powers of attorney in Northern Ireland.

NI Direct.gov.uk

Tools and support

A range of tools to help you with protection, including more detailed information on business protection, what is the right trust to use in certain situations and a range of support for parents setting up family protection to ensure their children are cared for, should something unfortunate happen.

ABI - Percy the protection calculator

This quick calculator from the ABI can highlight the kind of payments an individual may be entitled to in the worst-case scenario.

Percy the protection calculator

CPD | A guide to wills, trusts and guardianship - Recommending life cover to your clients helps make sure they’re financially protected but does it go far enough? Our Good Parent Portfolio makes it easier to talk to clients about making a will, putting protection plans into trust and the importance of thinking about guardianship.  

CPD | Unlocking protection opportunities in the UK rental market - In this webinar we look at the changing dynamics of the UK housing market and how renting a home is fast becoming the lifestyle choice of many. We explore the reason tenants can be more financially vulnerable than homeowners and why protection is equally important for tenants.    

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This website is intended for financial advisers only and shouldn't be relied upon by any other person. If you are not an adviser please visit royallondon.com.

The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL.