History in the making

After more than two years of consultation and the corresponding implementation of the rules, state regulation under the Financial Services Authority has finally arrived.

And, while secondary intermediaries look set to cause continuous headaches in the ranks at Canary Wharf well into 2005, the primary market is, or at least should be, ready for inspection.

This supplement has been devised to provide an in-depth overview of themes and topics most recently of concern to brokers - in addition to coverage of issues ongoing.

Insight into the workings of the FSA as a government department is also provided by ex-FSA policy expert and regulatory consultant Oliver Lodge.

Being able to distinguish between the regulator's public and private pronouncements and the importance of listening and acting at early stages are among the subjects discussed in a two-page article by Lodge on demystifying the FSA.

An interview with Sarah Wilson and a contribution from the British Insurance Brokers' Association on the Insurance: Conduct of Business Rules add further meat to the bones.

It is not every day that state regulation is imposed on an industry and I hope this publication is of use as you incorporate your firm into what is, arguably, the most ambitious project in the industry's history.