Majority of brokers believe FCA is merely a rebrand
Three quarters of brokers believe the change to the Financial Conduct Authority (FCA) has been merely a "re-branding exercise", a survey has found.
Some 75% of those brokers quizzed at the 2013 British Insurance Brokers' Conference (Biba) believe that the FCA - which replaced the Financial Services Authority last month - will not implement a "fundamental change" to regulation.
The survey of more than 150 brokers, carried out by compliance firm UKGI, also found that 20% feared that the FCA would have a negative impact on the industry, while 21% stated that it would have no impact at all.
Jerry White, UKGI MD, said: "Although this appears to
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