Are your staff the best of the best?
Much of the focus of Financial Services Authority regulation has been on staff training and competence. Ian Jerrum offers his thoughts on how best to keep on top of the issue
Brokers have spent much of 2004 preparing for regulation by the Financial Services Authority (FSA). In just a few months' time, the balance will shift from affirmation to demonstration and brokers will need to begin substantiating the claims made in their applications. The danger is that this year's preoccupation with form filling has actually diverted resources from some of the key areas requiring attention and investment to put compliance into practice. The most obvious example of this is
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Management
NFP buys Bspoke to expand its UK specialist insurance services
NFP, an Aon company, has purchased Bspoke Insurance Group to strengthen its existing suite of insurance solutions while expanding technical underwriting expertise and specialist product knowledge.
Yutree outlines plans after MBO
Laura Hancock, managing director of Yutree Insurance has outlined plans for the future following a management buyout, including opening an office in Norwich.
Should you sell your broking business to an Employee Ownership Trust?
Tax-efficient exit strategies and staff incentivisation have become hot topics among broker leaders since the recent increases in Capital Gains Tax and Employer National Insurance. In the second part of a series focused on the fallout from the 2024 Labour Budget, Catherine Heyes examines how broker owners can use Employee Ownership Trusts to respond to these developments.
Chaucer CUO named new CII president
Nicola Stacey, chief underwriting officer at Chaucer, has been elected the new president of the Chartered Insurance Institute.
Montagu agrees to sell Open GI to minority shareholder Ares
Ares Management is set to acquire Open GI, with the deal signed on 9 August 2024, Insurance Age can exclusively reveal.
“Nobody came close to AUB” – CEO Cheesbrough on Movo’s new investor
The Movo Group is looking to create larger broking hubs and kickstart its directly authorised network Fusion after AUB took an 80% equity stake, according to Lea Cheesbrough, Movo Partnership CEO.
Ex-Ardonagh MD Barclay takes over as CEO of top 100 broker
Lycetts has appointed Ian Barclay to CEO, succeeding Charles Foster who is retiring after seven years in the role.
AbbeyAutoline makes second book buy in a week
AbbeyAutoline has purchased Down Insurances’ customer book of business, based in Downpatrick, further strengthening its presence in Northern Ireland.