FSA delays takeover till 2005
Intermediaries have been shown the definitive timetable for theregulation of the non-life sector by the Financial Services Authority(FSA) - and it gives the sector extra time to become compliant.
The timetable was revealed by Financial Secretary to the Treasury RuthKelly in a letter to the chief executive of the General InsuranceStandards Council (Gisc), Chris Woodburn, and it will see the FSA takeover the regulation of general insurance on January 14, 2005.
In her letter, Ms Kelly outlined a
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