The FCA spent over £400,000 on AR thematic review
Review which found "significant shortcomings" cost the regulator £417,669.
The Financial Conduct Authority (FCA) spent over £400,000 on the thematic review looking into appointed representatives (AR) in the general insurance sector, Insurance Age can reveal.
A response to a Freedom of Information (FoI) request conducted by Insurance Age detailed that the regulator spent £417,669 on the review.
It explained that the costs were based on the time recorded by the staff involved as well as expenses by the FCA team that did the firm visits as part of the review.
Shortcomings
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
- In Depth: Managing cyber risk in an ever-changing security landscape
- Covéa cuts losses but underwriting deficit grows
- JMG strikes its biggest deal of 2024 with BQI swoop