Biba has said the New York district attorney's action against Marsh is “very serious”.
Biba said high profile cases against major brokers such as Marsh would serve to damage the reputation of brokers and intermediaries.
It said it was not aware that any similar cases had been launched in the UK.
In a statement it said: "Biba would expect any breaches of the regulatory environment in the UK to be dealt with quickly and effectively and hopefully not in the US fashion. Biba does not anticipate the FSA
handling the subject in the same way.”
