Brokers face commission disclosure threat from FSA

Brokers could be forced to disclose commission to their commercial customers, the Financial Services Authority (FSA) has warned.

It was revealed in a 'Dear ceo' letter sent out to brokers as the regulator targets what it sees as failures in the systems and controls which manage their relationships with insurers and customers.

FSA officials visited 38 firms to assess the situation regarding conflicts of interest, and further visits in 2006 will be the basis "to assess whether there is a case to

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