The FSA is proposing to scrap previously proposed exemption provisions, such that all firms, regardl...
The FSA is proposing to scrap previously proposed exemption provisions, such that all firms, regardless of size, will have to obtain PII cover. Cover will be required regardless of whether or not a firm's business falls within the scope of the EU's Insurance Mediation Directive. The question of whether firms with turnover above £10m should be exempt from PII requirements was first put in CP169. Despite a positive response, the FSA now says that there are no provisions in the IMD to exempt firms falling within the scope of the Directive from PII requirements based on tur...
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