Towergate accepts £2.6m FCA fine
Consolidator hit by £2.6m fine from regulator for client and insurer money failings.
Towergate has confirmed it has worked closely with the Financial Conduct Authority (FCA) throughout the investigation that led to the broker being fined £2.63m.
The broker detailed that the investigation looked into certain breaches of the FCA's Rules and Principles concerning the treatment of client and insurer money during the period June 2005 to December 2013, and added that it has accepted responsibility and agreed to pay the fine.
Cooperation
Towergate added that it had fully cooperated and
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
- Covéa cuts losses but underwriting deficit grows
- In Depth: Managing cyber risk in an ever-changing security landscape
- JMG strikes its biggest deal of 2024 with BQI swoop