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FCA bans broker for misusing policyholders’ premiums

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The Financial Conduct Authority has banned the former director of an Exeter-based insurance brokerage from working in the financial services industry.

Martin Sarl, who was the sole director of Perry Prowse (Insurance Consultants) Ltd, was also fined £5,021.

The regulator said Sarl had acted without honesty and integrity, failing to pass clients’

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Hidden risks in insurers’ culture and misconduct data

Insurers are under growing regulatory pressure to treat non-financial misconduct as a core conduct risk, according to Loka Venkatramana from Pathlight Associates, who says they should use cultural and behavioural data with the same rigour as financial metrics to identify and address problems before they damage customers, staff or the market.

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