Premium finance provider Singer & Friedlander has been defending broker clubs in the wake of rumours that the FSA is to launch an investigation into the practice, it said.
Singer & Friedlander said broker clubs were a way of rewarding those brokers who generate the greatest volume of profitable business.It recently launched its own broker club called Broker Partnership
According to the company, the FSA's main concern will be to investigate whether any of the perks on offer within specific programmes could be construed as soft commissions.
