Fears mount over FCA name-and-shame threat
Watchdog’s plans to name firms under investigation causes dismay and confusion for brokers
The Financial Conduct Authority (FCA) took another step last month towards cementing its status as the industry body that “shoots first and asks questions later”.
The watchdog’s announcement that it would be utilising its power to name firms under investigation was met with some dismay by the broker community.
Reputational damage
Ann Peel, technical consultant at Insurance Compliance Services (ICC), explained that many brokers were anxious about the potential for reputational damage.
“They are
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