Making and keeping New Year's regulations.
Brokers are starting the year with the news that the General Insurance Standards Council will be sup...
Brokers are starting the year with the news that the GeneralInsurance Standards Council will be superceded by the Financial Services
Authority.
After all the in-fighting over the GISC, the European Directive on
Insurance Mediation has required member states to introduce statutory
regulation.
This directive should be implemented by 2005, having been agreed and
formally adopted by the European Parliament in spring.
Understandably, GISC-member brokers are feeling fed up. Many invested
considerable time
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