Biba hails victory as FSA backtracks
The British Insurance Brokers' Association today claimed a victory when the Financial Services Authority issued a policy statement setting out its final decision on the level of regulatory fees and levies for the 2009-2010 financial year. It shows that a significant amount of contingency funding has been moved to the depositor takers block, leading to significant reductions in the originally proposed fees.
Eric Galbraith, Biba chief executive, commented: "Biba felt very strongly that the original fee proposals were, in respect of insurance intermediaries, unfair. We responded in strong terms to the FSA
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