Brokers warned: IMD review may enforce UK fee disclosure
Broker trade bodies have warned that the current revamp of European law may lead to commission disclosure becoming mandatory in the UK
Broker trade bodies have warned that the current revamp of European law may lead to commission disclosure becoming mandatory in the UK.
The European Insurance Mediation Directive (IMD) is under review and, while so far it has been silent on disclosure, head of compliance and training at British Insurance Brokers' Association, Steve White, said a lawyer on the commission's internal markets team had divulged that the amended policy would include "far greater transparency".
Mr White said: "Let's
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