Insurers and brokers united in funds battle
Insurers and brokers are set to join forces in order to challenge the Financial Services Authority (...
Insurers and brokers are set to join forces in order to challenge the Financial Services Authority (FSA)'s confused plans for the segregation of brokers' accounts.
Under the regulator's recently published Final Rules (see page 4), brokers will be allowed to mingle client and insurer monies in the same account - but only until January 2006. The FSA has also said it will continue to investigate the segregation of client and insurer monies and might undertake further consultation.
Biba is expected to
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