FCA launches market study into wholesale insurance brokers
Regulator says it wants to make sure the sector is fostering innovation and competition.
The Financial Conduct Authority (FCA) has launched a market study to assess how competition is working in the wholesale insurance broker sector.
The regulator stated that it wanted to “ensure that the sector is working well and fosters innovation and competition” in the interests of its clients.
It further noted that there have been “significant changes” in the wholesale insurance sector in recent years which has led to brokers developing new services and business practices and the FCA now
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