Brokers facing race against time to clear 'goodwill' debt
Brokers must immediately start removing goodwill from their accounts or risk insolvency when account...
Brokers must immediately start removing goodwill from their accounts or risk insolvency when accounting regulations are implemented in two years time, industry figures have warned.
Under a Financial Services Authority (FSA) prudential requirement, which will come into force for insurance intermediaries on 14 January 2008, brokers will no longer be able to treat goodwill as assets in solvency calculations.
Those hit particularly hard could be acquisitive brokers and consolidators - because the main
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