Client money
Judge denies Alec and Robert Finch fraud case appeal
A High Court judge has denied Alec and Robert Finch permission to appeal after being found guilty of fraud in September.
Andy Fairchild signs up at CGI
Ex-Broker Network boss Andy Fairchild has teamed up with global IT services and business consulting firm CGI as a brand ambassador, Insurance Age can reveal.
FCA pinpoints good and poor practices for orderly broker wind-downs
The Financial Conduct Authority has listed broker failings as it reiterated expectations and requirements for wind-down planning.
Lloyds Bank changes track on broker account options
Lloyds Bank is to expand the number of options on the table for brokers just months after the furore over its move to close undesignated client accounts, Insurance Age can reveal.
Disappointed FCA warns brokers on consumer harms
The Financial Conduct Authority has written to brokers warning there are significant risks of potential harm that both the market and individual firms need to address and that it will take action where needed.
Acrisure lifts the lid on network rollout and broker buying plans
Acrisure is forming a network and its application to the Financial Conduct Authority is “going in now”, president of UK retail Mark McIlquham, has revealed.
FCA does not want to be a price regulator, says Sheldon Mills
Sheldon Mills, executive director – consumers and competition at the Financial Conduct Authority, has stressed to brokers that the watchdog does not want to be a price regulator.
Biba urges FCA to step in as Lloyds moves to close undesignated client money accounts
The British Insurance Brokers’ Association has contacted the Financial Conduct Authority asking the regulator to intervene over Lloyds Bank’s move to close undesignated client money accounts for some members, Insurance Age can reveal.
Analysis: Network knowledge is key to opening the door to new start-ups
The network sector is in upbeat mood confident of growing with existing and new members as well as being keen to help new start-ups come into the insurance market, the leaders tell Emmanuel Kenning
Lloyd’s wholesale broker Corrie Bauckham Batts goes into liquidation
The Financial Conduct Authority has confirmed that Corrie Bauckham Batts went into liquidation on 20 April with John Dean Cullen and Rachel Helen Lai of Menzies appointed as joint liquidators.
Client money rules 'too complicated to understand', say compliance experts
Specialists have discussed the issues surrounding client money handling, highlighting what the Financial Conduct Authority and brokers ought to do in order to avoid non-compliance.
Brokers ordered to review client money arrangements
The Financial Conduct Authority has written to intermediaries to remind them it will fine businesses if misconduct occurs as it highlights key failings.
Insurance Hound: Most read by brokers in February 2021
Which topics have been sparking brokers’ interest?
Brokers on alert as FCA puts client money under the microscope
In a fresh dear CEO letter to brokers, interim CEO Christopher Woolard warns that the regulator is assessing firms’ arrangements and tells brokers it is imperative to safeguard the client money they hold for customers.
Cost of motor insurance falls again
Survey by ABI reveals average motor insurance premiums dropped for the fourth quarter in a row.
NatWest unveils virtual account platform for businesses
Bank says the platform will aid regulated professions including insurance.
SM&CR tops experts’ predictions as the 2019 regulatory issue for brokers
FCA fines show firms cannot take their eyes off the ball.
FCA fines down to £60.5m in 2018
Regulator’s annual total falls from £229.5m in 2017.
FCA confirms One Call’s fine and £4.7m hit
John Radford’s £468,600 fine also confirmed.
Podcast: The top five stories of the week
Ida Axling and Siân Barton discuss the week's top five most read stories.
The Blog Spot: Brexit, client money and embarrassment
If you can’t, won’t or don’t play by the rules expect to see money fly out of your wallet, writes Siân Barton