FSA defends practices as rogue broker slips through application net

The Financial Services Authority (FSA) has denied that it is under-resourced, following the banning of a broker who had previous convictions for fraud.

Lancashire broker Neil McKay of Ideal Insurance Services was banned by the regulator after it found he had cancelled contracts of insurance without customers' knowledge and failed to pass on premium payments taken from customers to other intermediaries or insurers.

In the process of the investigation, the FSA discovered Mr McKay had been convicted

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 [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

If you already have an account, please sign in here.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: