What have you done with the money?
The FSA still isn't happy about how brokers are handling client funds - and now it's getting tough. So, don't be surprised if some visitors come calling, writes Paul Lang
The Financial Services Authority (FSA) is currently undertaking a major review of over 200 firms across the UK to see how brokers, particularly authorised ones, are complying with client money rules. These visits follow in the wake of pilot studies carried out at the beginning of 2006 that suggested errors, confusion and plain ignorance of the rules were far more widespread than expected.
The regulator believes that brokers have now had enough time and guidance to comply, or at least make serious
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Zurich strikes five-year capacity deal with MGA Freedom Services
- Pen inks £150m social housing capacity deal with SiriusPoint
- RSA and NIG brands to become one next year but undecided on name