Legal Update: Conflicts of interest in the insurance distribution chain
As they prepare for the Insurance Distribution Directive, insurers and brokers need to be wary of conflicts of interest, which the Financial Conduct Authority has been monitoring closely, explain Roseyna Jahangir and Juanita Morrison, associate and solicitor at Womble Bond Dickinson.
Recently the Financial Conduct Authority published a final notice, imposing a fine of more than £4m on Bluefin. The broker had failed to be transparent with customers about the fact that during the
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