The Financial Conduct Authority (FCA) aims to "secure an appropriate degree of protection for consumers". So in its first full year in operation, how did it fare? Professional Adviser delves into its annual report to look at the figures...
500 In September 2013, the FCA became concerned about the provision of professional indemnity insurance for 500 professional services firms. It secured the agreement of three firms to vary their permissions to ensure that clients were advised of the concerns and that premiums received from clients were appropriately segregated and safeguarded. FCA director of supervision Clive Adamson said in March the availability and appropriateness of PII cover for advisers was an issue on the regulator's radar. In other cases firms agreed to make board changes, carry out customer redress ...
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