As I predicted at the start ..

As I predicted at the start of Financial Services Authority (FSA) regulation, we are now starting to see the impact on those firms that do not live up to the new standards of regulated society.

First of all there was Whiteley Insurance Consultants, which went into provisional liquidation on 26 April. Then on 5 May came BPS Insure - which was one of the UK's top 50 independent brokers - when the FSA issued an Own Initiative Variation of Permission due to a deficiency in BPS's client money accounts

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