FOI confirms broker S166s including one financial crime review

investigations-magnifying-glass

A Freedom of Information request by Insurance Age to the Financial Conduct Authority has confirmed four broker S166s, indicated they were most likely smaller-sized firms, and revealed one of the reviews fell into the category of financial crime.

The FCA stated in March it had slapped the general insurance & protection sector with the skilled person reports between October and December, among 24 handed out across the financial services industry.

The original information did not specify if the four reports were aimed at brokers. However the response to the FOI detailed they were issued to companies with permission to arrange “non-investment insurance contracts”.

The news in March did not set out whether the four reports were S166 or S166a

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