Legal & Contingency Limited are authorised and regulated by the Financial Conduct Authority. Firm Reference Number: 312376
Important information for solicitors and licensed conveyancers regarding FCA regulations. Click on the links below for our factsheets.
Information for solicitors who advise on and arrange insurance for their clients as an incidental part of a conveyancing transaction
Under the Financial Services and Markets Act 2000 (as amended) the Financial Conduct Authority (FCA) is responsible for regulating financial services conduct.
Solicitors who advise on or arrange contracts of insurance, such as defective title or search indemnity policies, are deemed to be carrying on insurance mediation services under the Act and are thus subject to the FCA regulations. However, under the designated professional body regimes, rather than being overseen by the FCA, solicitors are overseen by the Solicitors Regulation Authority (SRA).
If your firm is not on the FCA register either as a regulated FCA firm or EPF to undertake insurance mediation activities you will be committing a criminal offence. If you do not appear on either register you should contact the SRA before undertaking any insurance mediation activities including issuing policies.
Is your firm on the EPF or FCA register?
You can check this on
register.fca.org.uk
If you require any further assistance please call us on 020 7397 4363 or email enquiries@conveyancinginsurance.co.uk.
Information for licensed conveyancers who advise on and arrange insurance for their clients as an incidental part of a conveyancing transaction
Under the Financial Services and Markets Act 2000 (as amended) the Financial Conduct Authority (FCA) is responsible for regulating financial services conduct.
Licensed conveyancers who advise on or arrange contracts of insurance, such as defective title or search indemnity policies, are deemed to be carrying on insurance mediation services under the Act and are thus subject to the FCA regulations. However, under the designated professional body regimes, rather than being overseen by the FCA, licensed conveyancers are overseen by the Council for Licensed Conveyancers.
This in itself is not sufficient to allow you to advise on and arrange contracts of insurance:
If your firm is not on the FCA register either as a regulated FCA firm or EPF to undertake insurance mediation activities you will be committing a criminal offence. If you do not appear on either register you should contact the CLC before undertaking any insurance mediation activities including issuing policies.
Is your firm on the EPF or FCA register?
You can check this on
register.fca.org.uk
If you require any further assistance please call us on 020 7397 4363 or email enquiries@conveyancinginsurance.co.uk.