Industry unhappy with private clients definition
The British Insurers Brokers' Association is unhappy with the current private and commercial defini...
The British Insurers Brokers' Association is unhappy with the currentprivate and commercial definitions laid out by the Financial Services
Authority in CP160. BIBA is in consultation with its members and plans to
publish a response outlining alternatives in mid to late February.
BIBA's chief executive, Mike Williams, said the association is concerned
about the FSA's definition of private clients, which includes businesses
with a turnover of less than £1m.
He said: "Our members believe the proposed
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