Have you received a 'minded to authorise' letter from the FSA? If so, let me know. With the first few hundred minded to authorise letters now issued by the FSA, Insurance Times has decided to begin a 'Hall of Fame' for those hardworking brokers who have received the coveted letter from the regulator.The list will appear on the Insurance Times website, so you will be able to show off your achievement to your peers. Insurers will also find the information valuable, as they will not be receiving lists from the FSA until late this year. If your name is on the list, your insurers will be confident that they will continue to be able to trade with you next year. Turning to this week's column, the issue of client money is once again top of the agenda. Alex Peterkin looks at non-statutory trusts, and Brian Hague provides a concise comparison of the two types of trust account. The Distance Marketing Directive also comes under the spotlight. Some brokers may have heard of this piece of European legislation; others will not. Many brokers will be unaware of its implications, or be unclear as to what it means for them.Michael FaulknerIf you have received a minded to authorise letter, email
Latest news from the FSA[As at 30 April] Registrations - 15046, of which 8675 related to general insurance businessApplications - 5580, of which 1896 were from general insurance firmsMinded to authorise letters - 1135 letters sent, of which 329 were to general insurance firms
