Intermediary is banned
The Financial Services Authority has cancelled the ICM Groups permission to continue regulated activ...
The Financial Services Authority has cancelled the ICM Groups permission to continue regulated activities after it failed to pass on client premiums to insurers, potentially leaving around 300 clients uninsured. ICM had also misused client money for day-to-day running of the business. Premiums owed to insurers totaled £35,000 and ICM also had no professional indemnity cover for more than a year.
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