The FSA has released consultation paper 174; prudential and other requirements for mortgage firms and insurance intermediaries.
It is proposing that brokers demonstr ...
The FSA has released consultation paper 174; prudential and other requirements for mortgage firms and insurance intermediaries.
It is proposing that brokers demonstrate the safety of client money either by keeping it in segregated client accounts under trust or through contractual arrangements under which the insurer assumes responsibility for the funds.
Compulsory professional indemnity insurance and extending the Financial Services Consultation Scheme to include brokers are also among the key proposals in the document.
