Broker to compensate customers for oversight breaches as regulator eyes AR clampdown

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The Financial Conduct Authority has launched its fees consultation and hit out at appointed representative drivers of harm, as it publicly censured Alsford Page & Gems for AR oversight breaches relating to the sale of extended warranty insurance.

The regulator has confirmed it is consulting on a new AR fee, which would see a flat periodic fee of £250 payable on each AR by principal firms. The FCA expects this would raise extra funding of

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