FCA says lack of proper PI cover places 'unfair' burden on FSCS and firms
Dear CEO letter sent today
“It also threatens confidence and participation in financial services market,” - FCA's Debbie Gupta.
The Financial Conduct Authority (FCA) has said the inability for firms to compensate consumers via their professional indemnity insurance is “unfair".
In a ‘Dear CEO' letter published on Tuesday (21 January), addressed from FCA director of life insurance and financial advice supervision Debbie Gupta, she said the transfer of these compensation costs...
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