FCA says lack of proper PI cover places 'unfair' burden on FSCS and firms
Dear CEO letter sent today
Gupta said the FCA will be focusing on whether advisers have adequate financial resources
The Financial Conduct Authority (FCA) has said the inability for firms to compensate consumers via their professional indemnity insurance is "unfair".
In a 'Dear CEO' letter published on Tuesday (21 January), addressed from FCA director of life insurance and financial advice supervision Debbie Gupta, she said the transfer of these compensation costs...
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