MP criticises distorted FCA funding in Parliament
Former broker Craig Tracey MP says FCA regulation of the insurance industry is not proportionate.
In a backbench business debate in Parliament on 1 February, MPs raised concerns about regulation.
Craig Tracey MP, who previously owned Dunelm Insurance Brokers, talked about the Financial Conduct Authority's (FCA) failure to work in partnership with the insurance profession to understand it and create an effective model targeting the key concerns.
He further noted that research from the British Insurance Brokers' Association (Biba) in 2013 had found that "the UK broking market is the most
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