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FSA calls for insurer/broker co-operation on TCF

Providers and distributors of financial products have differing but interlocking responsibilities for treating customers fairly and need to work together to help avoid potential future detriment for consumers, according to a discussion paper issued today by the Financial Services Authority.

The deadline for feedback on the paper is 29 December. The FSA has said providers should design their products with greater care, to provide higher quality information, to monitor distribution

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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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