A change for the best?
This month's Power Hour discusses the issues surrounding the Financial Services Authority's plan to change the rules regarding the use of Goodwill, including the potential impact on the insurance market and whether enough has been done to warn brokers of the risks
With the clock ticking down to the end of the grace period for brokers using Goodwill, there are concerns in the industry as to whether brokers will be fit for purpose by 14 January 2008. How has the market handled this issue so far, and what solutions are available?
John K: We know how many firms are affected by the Goodwill issue from the Retail Mediation Activities Return (RMAR), and it is probably in the hundreds. We have written to those firms reminding them of the expiry of the transition
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