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Pitfalls for small insurance brokers in FSA authorisation

Small insurance brokers need to be careful when completing their applications to become authorised by the FSA as the compliance burden is more onerous than it first appears, says insurance law firm Reynolds Porter Chamberlain.

According to RPC, although the new high street firms application pack is “relatively straightforward” to complete for small firms with annual income less than £1m, it does not reveal the true continuing burden of compliance.

RPC financial services team solicitor Harriet Quiney says: “Completing the application should be the final stage of the compliance process, not the beginning. Brokers should already be starting to take the necessary steps now if they are to fulfil the compliance obligations by January 2005 but the simple format of the form could lead unsuspecting small brokers into the false belief that nothing further is required of them.”


Consumer champion Sheila McKechnie dies at 55

Consumers&#39 Association director Dame Sheila McKechnie has died after a long illness.McKechnie, who died last week aged 55, had lived with cancer since 1997 but maintained an active role as director of the CA until last November.She was an outspoken campaigner who took the side of consumers in many confrontations with the financial services business.She […]


Yes. I don&#39t see why not. People read the press and they will get excited.Peter Streatfield, Complete Independent MortgagesYes. But I don&#39t think it will be that popular unless the stockmarket shows more improvement.John Hedden,Torridge Insurance Consultants“Possibly, the market is moving and people are getting more settled.”John Bevington, McKinlay York“Yes, I think it will be […]

EU release implementation of international financial reporting standards information

The Committee of European Securities Regulators has published its recommendation for regulators on how listed companies can manage the communication of the financial impact of transitioning to international accounting standards in 2005. CESR says it considers it essential the transition is carefully monitored by regulators, ensuring every company continues to meet its reporting requirements and […]

Nationwide – 3 Year Tracker Mortgage

Type: Tracker mortgage Tracker term: Three years Tracker rate: Up to 95% of valuation &#45 Bank of England base rate plus 0.69%, up to 90% of valuation &#45 base rate plus 0.29%, up to 75% of valuation &#45 base rate plus 0.19%% Minimum loan: £1 Maximum loan: Up to 95% of valuation subject to a […]


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