The FCA spent over £400,000 on AR thematic review

Bag of money

The Financial Conduct Authority (FCA) spent over £400,000 on the thematic review looking into appointed representatives (AR) in the general insurance sector, Insurance Age can reveal.

A response to a Freedom of Information (FoI) request conducted by Insurance Age detailed that the regulator spent £417,669 on the review.

It explained that the costs were based on the time recorded by the staff involved as well as expenses by the FCA team that did the firm visits as part of the review.

Shortcomings

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