IIB supports Treasury’s financial stability report

IIB responded only to those parts of the consultation which most directly affect its members. In particular, it highlighted the threat to insurance brokers and other small intermediaries as a result of their obligations under the Financial Services Compensation Scheme (FSCS).

“We have previously expressed our view that too much emphasis is placed on the FSCS as the safety net for the FSA’s own regulatory failings,” added Ms Peel. “The Northern Rock debacle has demonstrated the ineffectiveness of