Broker Expo South: FCA will demand more information and conduct more visits

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Brokers can expect a lot more demands for information from the incoming Financial Conduct Authority (FCA), delegates at the 2012 Broker Expo South were told today.

At the event, hosted by Insurance Age, Terence Clark, head of compliance at RWA, stated that the new regulator will be much more consumer focused and “more forward looking” than its current counterpart, the Financial Services Authority (FSA).

He added: “It will definitely be asking for brokers to submit more information.”

Mr Clark advised brokers to start recording more information as well, as “if a broker hasn’t got written proof that they [are compliant], the regulator won’t believe it”.

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