Brokers warned of client money risks
Under the Financial Services Authority’s (FSA) Principle 10, all regulated firms must arrange adequate protection for client assets when it is responsible for them.
Fiona Raistrick, head of the financial services regulatory practice, at BDO Stoy Hayward says: “In these uncertain economic times, FSA regulated firms, such as insurance intermediaries, will have a lot to worry about, however, the holding of client monies should not be allowed to slip down the agenda and be forgotten about.
“If a
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Regulation
Videos/Podcasts
Insurance Covid-Cast: How has staff productivity been impacted by remote working?
For the 35th episode of Post and Insurance Age’s video series we gathered together a panel of senior insurance managers to discuss how productive staff have been since Covid-19 lockdown, and whether it has changed as restrictions have eased?
Subscribe to our daily newsletter for all the latest news
Most read
- Insurers urged to pay claims quickly following BI ruling
- BI test case: Brokers buried under avalanche as clients clamour to claim
- Aviva confirms office closures amid restructure
- Supreme Court rejects insurers' appeals in BI test case judgment
- Biba reveals measures to help brokers in light of Supreme Court judgment
- Blog: The broker fallout from the Supreme Court BI ruling
- Blog: Why the BI ruling offers brokers the perfect opportunity to show their mettle