Biba 2011: Galbraith calls for "proportionate" regulation of brokers
Eric Galbraith has called on HM Treasury and the new Financial Conduct Authority to work together towards delivering the right regulation for insurance brokers.
The British Insurance Brokers' Association chief executive called for "regulation that is appropriate and proportionate to the low risks that we pose". As part of his call, Mr Galbraith recognised the political pressure for regulatory change but emphasised the importance of this not resulting in detriment to the appropriateness, proportionality and cost of any regime for insurance brokers.
Mr Galbraith outlined that change was needed specifically relating to the unfairness of the current regime
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