FCA warns insurance intermediaries over conflicts of interest for small businesses
Conflicts of interest within insurance intermediaries dealing with small businesses are not being properly managed, a review by the Financial Conduct Authority (FCA) has found, in an echo of the concerns the regulator had about investment advisers that eventually led to the Retail Distribution Review (RDR).
The regulator said it has looked at seven of the largest intermediaries who serve small business clients - which it does not name - and concluded that in some firms, control frameworks and management information...
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