UK Broker Conference 2012: Brokers warned of "pre-emptive" action
The Financial Service Authority's (FSA) head of wholesale and general insurance warned brokers that the incoming Financial Conduct Authority (FCA) will not just be the FSA "with a different letter".
Speaking at the UK Broker Conference 2012 Simon Green set out the changes brokers should expect to see when the FCA launches next year.
He cautioned that the FCA will take a more "pre-emptive" approach to regulation and it will be focused on "conduct and regulation" with the customer being "at the heart" of its strategy.
And Mr Green warned that some firms will therefore need to "change their culture" in the way they view their customers.
He explained: "There is a clear focus on consumers and we
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