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Biba backs FSA over inducement guidance

The British Insurance Brokers’ Association has congratulated the Financial Services Authority after it issued a guidance paper clarifying their approach to conflict management, and in particular the unfair inducements rule.

Steve White, Biba’s regulation and compliance manager, said, “Biba is pleased that the FSA have taken a pragmatic and proportionate approach to this area of their rules and that they have stood by the

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FCA and PRA turn spotlight on MGA oversight

The Financial Conduct Authority and Prudential Regulation Authority are sharpening their scrutiny of managing general agents, stressing insurers must take primary responsibility for businesses underwriting on their behalf.

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