FCA warns brokers over financial crime risk management

fca-building-25tnc

The Financial Conduct Authority’s (FCA) review of financial crime risk management in small firms, has found that most commercial insurance brokers fail to manage bribery and corruption risks effectively.

The regulator reviewed ten commercial insurance intermediaries. It reported that despite there being some improvement over the last couple of years on policies around remuneration, hospitality and training, more needed to be done on bribery and corruption risk assessments (see box).

Commenting o

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: