Chris Woodburn, GISC chief executive, met with Andrew Paddick, director general of the Institute of Insurance Brokers and members of its board on Tuesday.

The meeting comes before the GISC's next board meeting on March 9, when a spokeswoman said it was due to discuss the timetable for accepting brokers, insurers and intermediaries into its proposed regulatory scheme.

Catherine Nicholl, spokeswoman for the GISC, said there were two likely dates when it begins to accept members, either in July or October.

Andrew Paddick said the IIB's meeting with the GISC was likely to be an informal affair.