The UK’s Financial Services Authority (FSA) wants to review the effectiveness of its new general insurance regulatory regime. The review of the 10-month-old system will begin next April and will focus on both the retail conduct of business requirements, and the effectiveness of the regime in meeting the intended outcomes for consumers.

FSA MD of Retail Markets Clive Briault says the effectiveness of the mortgage regime will be reviewed concurrently. Many firms are active in both the mortgage and general insurance markets.

“If the review leads us to conclude that changes to our rules and guidance are necessary, we will, of course, consult on these in the usual way,” he said.

The FSA will make the initial findings of the review public towards the end of next year.