FCA fines Towergate £2.6m for failing to protect client and insurer money
The Financial Conduct Authority has fined Towergate Underwriting Group £2.6m for failing to protect client and insurer money.
Towergate accumulated a shortfall of £12.6m in its client and insurer money bank accounts which went undetected for a number of years due to systems and control weaknesses.
Towergate has said that it
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