FSA to continue insurance crackdown

The regulator said although its ‘Client Money Guide’ had helped reduce the misappropriation of clients’ money the matter was not fully resolved. Any adviser who continued to fail to act properly would be dealt with harshly, it added. Sarah Wilson, FSA insurance sector leader, said: “We are still concerned about the overall level of compliance in this area as some firms only used the help available when they were aware of our forthcoming visit. “Our previous client money work revealed a worrying level of failure but effective tools are now available, and any failures that we identify w...