Brokers raised concerns to Biba on initial FCA ‘name and shame’ proposals
Brokers raised concerns to the British Insurance Brokers’ Association about the Financial Conduct Authority’s original transparency proposals, the trade body has confirmed to Insurance Age.
The FCA opened a consultation in February on a “step change” in being more transparent when opening an investigation into a firm. At the moment, it does not normally comment on whether it is investigating an issue and public notices appear only when the case has been resolved.
The push was quickly labelled ‘name and shame’ and after considerable uproar the regulator released an update yesterday with four significant changes (see box).
ProposalsYesterday the FCA announced four “significant changes”
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