Majority of brokers are acting within the law
Only a tiny fraction of brokers are deliberately trading illegally, it emerged as the results of the...
Only a tiny fraction of brokers are deliberately trading illegally, it emerged as the results of the Financial Services Authority's (FSA) perimeter visits were announced.
Out of 1,700 suspected UK firms visited by the FSA, only two brokers were found to be 'wilfully acting illegally', while 14 secondary intermediaries were also guilty.
An FSA spokesman said the regulator had decided not to 'name and shame' the brokers, but instead stopped them conducting any more insurance business.
He explained:
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 info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk 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 info@insuranceage.co.uk
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 info@insuranceage.co.uk
Most read
- Zurich strikes five-year capacity deal with MGA Freedom Services
- Pen inks £150m social housing capacity deal with SiriusPoint
- RSA and NIG brands to become one next year but undecided on name