FSA's CP 174 could force smaller brokers to quit
Brokers fear that the Financial Services Authority's CP 174 proposals will drive smaller intermedia...
Brokers fear that the Financial Services Authority's CP 174 proposalswill drive smaller intermediaries out of business.
Simon Bolam, proprietor of EH Ranson & Co and member of the small business
practitioners' panel at the FSA, said he was "very concerned". He said:
"Smaller brokers, particularly those who have never been regulated before,
will find it very hard to comply with the financial requirements. It's
much stiffer than the General Insurance Standards Council."
As Mr Bolam and Ian Richens
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