Brokers urge FCA to avoid property commission ban as decision looms

Banned stamp

The Financial Conduct Authority has been urged not to impose a property commission ban or cap on brokers as it faces political pressure for tough action.

An FCA review into brokers charging the highest commissions for work on buildings insurance is due in March.

Michael Gove, Tthe Secretary of State for Levelling Up, is concerned that insurance brokers, along with managing agents, landlords and freeholders, are taking excessive commissions for buildings insurance work.

Related Gove vows commission-chain ban as FCA buildings review on highest charging brokers imminent FCA sets out pooling and lower commission in flats insurance

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