FSA ruling may trigger reissue of TOBAs
Insurers may have to reissue terms-of-business agreements following the Financial Service Authority'...
Insurers may have to reissue terms-of-business agreements following the Financial Service Authority's decision to allow brokers to permanently commingle risk-transferred money with client money.
The FSA has announced it will amend Chapter 5 of the Client Assets sourcebook.
As a result, where an insurer agrees to commingle, it must confirm its agreement to subordinate its interests to the interests of the intermediary's customers.
The FSA has given intermediaries until 14 July 2005 to secure the
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.
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.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
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. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Industry pays tribute to former colleague Geoff Kitchen, who died on Singapore Airlines flight
- NSM to buy AllClear owner
- Reminder – The 2024 UK Broker Awards deadline is 7 June