Final rules 'fudge' lets insurers off the hook
The Financial Services Authority's indecision over the final rules on risk transfer and the handling...
The Financial Services Authority's indecision over the final rules on risk transfer and the handling of client monies has created needless strife for brokers. Now the relatively simple task of formalising the common market practice of insurers taking responsibility for client money through agency agreements has been fudged.
Although the FSA eventually realised the rules as they stood were unworkable, it was by then too late do anything about it prior to the final rules being published. This
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