FSA stands by the need for increased SIF consultation
Senior appointment scrutiny to affect smaller brokers too
The Financial Services Authority (FSA) has defended its decision to take a more "intrusive" approach to vetting senior appointments in a move that could affect insurers and brokers of all sizes.
Chief executives of 5,000 FSA-regulated firms have received a letter from the Authority explaining its intention to increase the scrutiny and supervision of senior personnel performing significant influence functions (SIFs).
The watchdog expressed a wish for major firms to consult it at the shortlist
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