FCA finds poor practices and warns on broker fee disclosure

Two magnifying glasses

The Financial Conduct Authority (FCA) has stated that it has found a number of poor practices in how motor brokers and insurers disclose their fees. In its regulation round-up for March the watchdog said it had conducted research on fees charged by brokers and insurers, however, according to a spokesperson for the FCA this research has not been published. The regulator noted that the research had found that some firms were not clearly disclosing the fees and charges customers would be charged,