Experts respond to ‘much ado about nothing’ FCA premium finance review
“After weeks of speculation, the overall feeling is one of ‘much ado about nothing’ – especially if you’re a firm doing the right thing,” said Michael Sicsic, managing partner of Sicsic Advisory, on the Financial Conduct Authority’s premium finance market study update.
The regulator confirmed today that it is not going down the route of banning broker commission in premium finance and will not be mandating a 0% annual percentage rate or introducing a single level market-wide cap.
RelatedNo broker commission bans or compulsory 0% APRs on premium finance, says FCA FCA launches review into premium finance “fair value” and barriers to competition FCA urges improvements after uncovering “concerning evidence” of poor claims handlingThe watchdog had launched a
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