Blog: Stick to what you know
Brokers have pushed back against the idea of self-regulation. Sticking with the Financial Authority is indeed the way forward to keep consumer trust, argues Rosie Simms.
Last month Arron Banks revealed to Insurance Age that Reform UK is considering scrapping the FCA, allowing brokers to self-regulate, if it forms the next government.
Banks that work closely with Reform leader Nigel Farage claim he wants to slash red tape, cut levies and be a champion of the independent broker.
The whole mindset, the whole approach has to change.Robert Marshall, Trident Insurance Brokers
Self-regulation for brokers ended in 2005, with the switch from the General Insurance Standards
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