Client money rules 'too complicated to understand', say compliance experts

money-staircase

Compliance experts have told Insurance Age that the rules surrounding client money handling are difficult to grasp, following the Financial Conduct Authority’s (FCA) ‘Dear CEO’ letter, in which it reminded intermediaries that fines would be issued for misconduct.

The letter, signed by Matt Brewis, director of insurance and conduct specialists, highlighted than more than half of firms were not undertaking client money calculations correctly.

Culpability
David Sparkes, head of compliance and

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 [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: