‘Scrap the FCA’ – Arron Banks unveils Reform’s ideas for a self-regulating insurance industry
Arron Banks has revealed Reform UK is considering scrapping the Financial Conduct Authority, allowing brokers to self-regulate, if it forms the next government.
Banks, pictured, who works closely with Reform leader Nigel Farage, told Insurance Age he wants to slash red tape, cut levies, and be a champion of the independent broker.
Revealing a host of ideas that would radically transform UK insurance and financial services, Banks said:
The FCA should be scrapped, along with the Solicitors Regulation Authority, heralding a new era of self-regulation in professional and financial services.Serious consideration is being given to turning the UK into a no-faultOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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