Biba calls on FCA to cut out 'jargon' amid product governance confusion
The British Insurance Brokers’ Association has called for the Financial Conduct Authority to cut down on the amount of jargon in its rulebook, saying that the terminology used in new product governance rules risks confusing brokers.
Enhanced product governance rules that came into force on 1 October asks firms to consider whether they are a ‘manufacturer’ or ‘distributor’ of insurance products.
Manufacturers are defined as firms
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