FCA ‘disappointed’ in wholesale brokers’ progress on product oversight
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FCA ‘disappointed’ in wholesale brokers’ progress on product oversight

Aisling Finn
13 June 2022
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The Financial Conduct Authority (FCA) has expressed its “disappointment” in London market brokers and MGAs, for not embracing its messages on themes including product suitability, price transparency and diversity and inclusion.

In a letter dated 25 May that was updated and distributed more widely today, the regulator identified various areas of harm it was concerned about that relate to Lloyd’s and London market intermediaries, MGAs, service companies and consolidators.

The

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