Mitigating conflicts of interest in the distribution chain

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The distribution chain has attracted the Regulator’s interest for some time now and it gets a specific mention in the FCA’s 2018 Business Plan.

The business plan states "Market access and choice can be restricted due to long and complex distribution chains, as well as a lack of transparency in market practices in wholesale markets."

The FCA has been carrying out an initial review of the wholesale market sector. There are two aspects here, one is to gain a much better understanding of how this particular sector works in the general insurance environment (it differs completely from Wholesale operations in other sectors) and how the sector works for the benefit of the client.

Download this article to find out more about the FCA's business plan and the implications for brokers.