Almost one-fifth of financial brokers see FSA regulation as their biggest challenge over the coming months, according to research conducted by Norwich Union.
Bi-annual analysis of the intermediary sector reveals those firms which are pre-dominantly family-run brokers – know by NU as “fading families” – are least prepared for the introduction of new regulations next month and again in January, alongside the smaller “corner shop” independent advisers as a quarter of brokers in each group (26%) feel threatened by new FSA regulatory requirements. Assessment of the preparations for regulation indicates 44% of “fading families” have yet to implement changes ahead of Mortgage Day on October 31st and General Insurance day on January 15th, 2005 compar...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
