Brokers may be failing to report misconduct

Warning sign against cloud backdrop

Only 15 conduct rule breaches were reported by insurance brokers or intermediaries last year, according to new information released by the Financial Conduct Authority in response to a freedom of information (FOI) request by Sicsic Advisory.

Over 6,000 solo-regulated insurance intermediaries must inform the FCA each year of any conduct breaches by certified staff under specific reporting requirements.

Sicsic Advisory said the FOI disclosure revealed that only ten firms reported

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