FSA bans ICM Group
The Financial Services Authority today cancelled ICM Group's permission to carry on regulated activities after it found the firm had failed to pass on client premiums to insurers, leaving clients potentially uninsured. In addition, ICM had used client money to run the day-to-day activities of its business.
ICM carries out credit and employment references on potential tenants on behalf of landlords and letting agencies. As part of this service, it also offered insurance on buildings and contents, as well
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