FCA urges brokers to help leaseholders in response to Gove request
The FCA's Sheldon Mills fires warning shot on broker commission transparency and adds the regulator will "use its powers to intervene" as he issues 'Dear CEO' letter amid review of the insurance market for multiple-occupancy homes.
The Financial Conduct Authority has outlined work it is carrying out in the insurance market for multiple-occupancy residential buildings, following a request from Michael Gove, Secretary of State for Levelling Up, Housing and Communities.
The regulator called on firms to consider what actions they can take to help leaseholders, whether individually or by identifying collective solutions as an industry.
It noted that, although insurance premiums are only one aspect of the rising costs faced by
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