FSA to review client money
The Financial Services Authority has announced it will undertake a large scale review of the handlin...
The Financial Services Authority has announced it will undertake a large scale review of the handling of client money by general insurance intermediaries later this year.
The decision follows pilot work which it said "showed a worrying level of failure by both wholesale and retail intermediaries to comply with FSA rules on client money, potentially putting consumers at risk of financial loss". Protection for clients' assets is a key requirement for firms under the FSA's Principles for Businesses
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