Biba strikes deal to avoid need for mandatory commission disclosure

The British Insurance Brokers' Association (Biba) has staved off the threat of mandatory commission disclosure after securing an agreement with the Financial Services Authority (FSA) to work towards a market solution.

The decision comes after what head of compliance and training at Biba, Steve White, described as a "torturous" three-year process.

"The final touches are being made to the solution with the aim of achieving Industry Guidance status," said Mr White. "The FSA is giving our sector a

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