“Surprise” at FCA clean bill of health for “unbalanced” wholesale market
The regulator said there was room for improvement and did not take action but expert suggests brokers expected the watchdog to intervene in what is seen as an “unbalanced market”.
Insurance expert John Needham has stated that brokers will be surprised by the Financial Conduct Authority’s (FCA) decision to give the London wholesale market a clean bill of health following its market review.
Needham, who is a partner in PKF Littlejohn’s financial services team, commented: “We suspect that a lot of brokers will be surprised by the clean bill of health given by the FCA and its decision to close its market study.
“Many brokers expected the review to result in the regulator
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