FCA issues restrictions on four insurance ARs in 10-firm crackdown
The Financial Conduct Authority has put 10 firms under restrictions for failing to meet its expectations on overseeing appointed representatives including four in the insurance industry.
The watchdog said it had made the move since introducing tougher rules in August last year.
The regulator has also written to more than 3,000 principals about their obligations to properly oversee the behaviour and conduct of their ARs.
When it originally consulted on ARs, in December 2021, the FCA said that it was seeing a wide range of harm across all sectors where firms have them.
Related FCA launches AR consultation to "address harm"Regulator warns that there are "real risks
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