Brokers urged to take action on client money handling after One Call's FCA fine
Firm also faces £4.6m hit as it suffers first known renewal fees suspension.
Compliance experts have urged brokers to make sure they understand the rules around handling client money and risk transfers.
This follows the news from today (26 January) that the Financial Conduct Authority (FCA) has fined One Call Insurance Services and its CEO John Lawrence Radford £684,000 and £468,000 respectively for breaching rules around client money handling.
“Rather than a wake up call this is more of a reminder that the FCA does look at this and that it hasn’t gone away,” stated
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