Broker to compensate customers for oversight breaches as regulator eyes AR clampdown
The Financial Conduct Authority has launched its fees consultation and hit out at appointed representative drivers of harm, as it publicly censured Alsford Page & Gems for AR oversight breaches relating to the sale of extended warranty insurance.
The regulator has confirmed it is consulting on a new AR fee, which would see a flat periodic fee of £250 payable on each AR by principal firms. The FCA expects this would raise extra funding of
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