The British Insurance Brokers' Association (Biba) has welcomed the news that the Financial Conduct Authority (FCA) has cancelled the CASS 5 review on client money.
Steve White, Biba chief executive, told Insurance Age that the regulator had emailed the news out to firms today (16 August).
He said: "We're pleased that we've finally got clarity now about what sort of rules intermediaries need to follow so we can get on with the task of doing that."
The original consultation paper was
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