The regulator should consider reviewing professional indemnity insurance (PII) in light of its investigation into Financial Services Compensation Scheme (FSCS) funding and the regulatory costs faced by small advisory firms, the Financial Advice Market Review (FAMR) recommends.
FAMR recommended making the FSCS-levy a risk-based arrangement. FAMR said that it is important to establish the relationship between PII and FSCS claims. It advises asking questions around whether...
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