FOI reveals FCA insurance investigations running into thousands of days for firms and individuals
The Financial Conduct Authority closed five investigations into firms and individuals in its insurance portfolio in 2021 with each lasting over 1000 days, a Freedom of Information request by Insurance Age has revealed.
According to the FOI, the FCA closed seven cases in 2020 and six in 2019 (see table at bottom).
The longest investigation closed in 2021 into a firm took 1503 days to complete while for individuals the longest from start to finish was 1415 days.
The shortest timespan for closures in the year were 1207 days for a firm and 1233 days for an individual.
A previous FOI from Insurance Age showed in May that the FCA was investigating 33 brokers.
The latest FOI asked the regulator for details on
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