FSA final rulebook: Biba's response
The British Insurance Brokers' Association said it would continue to press for satisfactory resolution to the issue of risk transfer following the publication of the Financial Services Authority final rules today.
In a statement it added: "Within the final rules the FSA recognises that there is an issue and has allowed insurer and client monies to be commingled in the same trust account for 2005. Biba will be making representation to the FSA over the coming months with a view to making the transitional arrangements permanent."Eric Galbraith, Biba chief executive, added: "The industry has been given further time to make representation to the FSA. It is essential, therefore, that we continue to press for
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