FSA 'concerned' with client money handling

The regulator even says that, despite providing tools to help intermediaries grasp the concept, some companies are only prepared to use them if they know the FSA is preparing a visit. In addition, firms have been told they need to start taking steps to meet the FSA’s capital resources requirement, the deadline for which is January next year. Andrew Honey, FSA head of insurance, small firms division, was speaking at the British Insurance Brokers’ Association (BIBA) annual conference. He says the FSA is pleased to find a “willingness” from firms to comply with the FSA’s principles on clien...