FSA says networks must improve AR supervision

The factsheet – Controlling Appointed Representatives: Factsheet for General Insurance, Mortgage and Investment Networks – suggests networks can improve in three main areas: compliance and the approach taken to supervising ARs; admission to membership, and documented procedures and management information. The FSA says the factsheet also applies to firms who appoint ARs but do not meet the definition of a network. In the area of compliance, the factsheet states senior management should establish and maintain effective systems and controls to comply with FSA requirements for monito...