FSA's ICOB proposals ludicrous and unfair to brokers, says Biba

The British Insurers Brokers' Association (Biba) has released a damning response to the Financial Services Authority's (FSA) proposals to amend its Insurance Conduct of Business rules sourcebook.

The association said the proposals would put brokers at a commercial competitive disadvantage, and that certain rules were "ludicrous" and "extraordinary". It also accused the FSA of creating rule changes that would "break up the level playing field" in the market, which could, in turn, "contradict its

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