FCA outlines “room for improvement” in £60bn wholesale market
However, the study into it did not identify “significant areas of harm” as Biba welcomes the final report.
The Financial Conduct Authority has found “areas of concern” in the London wholesale market following its inquiry into the space.
The watchdog, which began its probe in November 2017, noted that there was room for improvement in the following:
firms’ management of conflicts of interest; the information firms disclose to clients; and contractual agreements between brokers and insurers which, in a small number of cases, have the potential to limit competition.However, it did not discover
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