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


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.

David Sparkes, head of compliance and

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