Brokers say FCA's AR attack “fair”
Experts say that brokers taking on appointed representatives need to be aware of the "huge responsibility".
Brokers with appointed representatives (ARs) have described the Financial Conduct Authority (FCA) review as "fair".
The report, which pulls no punches, identified "significant shortcomings" in how principal firms in the general insurance sector have oversight of their own ARs.
The review led to one firm withdrawing from the general insurance sector, two companies being ordered to cease sales activity, and two 166 skilled person reviews.
Roger Gaunt has a network of ARs via his Leeds-based broker
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