Brokers under attack as FCA identifies "risks of harm" in sector
In a Dear CEO letter, Roma Pearson, head of retail GI, calls on brokers to address their strategies and improve their governance and warns the watchdog will take action.
The Financial Conduct Authority (FCA) has urged brokers to take action after it identified a number of “significant risks of potential harm” that need to be addressed by the sector.
In a Dear CEO letter to personal and commercial lines brokers, Roma Pearson, head of department, retail general insurance at the regulator, outlined the FCA’s view of the key risks that brokers could pose to their customers or markets and advised brokers to assess their strategies to reduce them.
“We have
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