Client money worries
Q. If my firm get a FSA themed visit, I am concerned we might have a problem with the money rules. I am not sure where to start, any suggestions?
Recently, many of the questions to this column have surrounded compliance with the money rules, so it is clearly an area of concern. Your question is very general but a check on the FSA website will show you that enforcement is starting to bite.
In particular, the FSA will come down hard on the principals of firms that fail to manage client money properly. No names mentioned but take a look at the FSA website and the levels of fines and the prohibition of directors, which effectively stops them
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
- Wakam receives PRA approval for new £500m GWP UK insurer
- Aviva’s David Martin on the art of the possible
- Brokers push for more from RSA/NIG