Some sage advice for brokers from Branko Bjelobaba at last week's Insurance Trends & Technology Conference.

First, on client money - any confused brokers were advised: "You can't use client money for school fees and Mercedes-Benz hires."

Well, that clears that one up.

And then, on regulation: "If you are visited by an enforcement officer, pretend you are dead, it will be less painless."

All very jovial stuff, but when you remember that Bjelobaba conducted over 400 separate audits under the ABI Code of Practice and GISC rulebook during his tenure at Pricewaterhouse-Coopers, you realise that he is talking from bitter, personal experience.