The Great Unknown - PI... comply...goodbye?
The daunting prospect of FSA regulation, and the related necessity oftrying to buy their own professional indemnity insurance in a shrinkingmarket, may prove enough to tip many smaller brokers over the edge,believes Liz Booth
The question of solvency requirements and the need for professionalindemnity (PI) cover are probably the two most pressing issues facingbrokers at the moment.
Experts reckon most intermediaries have until midsummer to decide whetherto press ahead and plan to meet the new Financial Service Authority (FSA)requirements - whatever they might be - or whether it is time to quit.
And with thousands of small brokerages run by those who established theirbusinesses in the 1970s, when previous regulatory
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