Industry takes “final chance” to improve fee disclosure

Despite several threats to introduce new rules, the FSA has decided to hold fire until the industry rolls out new guidance to improve transparency in commission disclosures

The Financial Services Authority (FSA) has confirmed that it will not introduce mandatory commission disclosure rules for the commercial insurance industry but will instead allow a “ w i n d o w o f o p p o r t u n i t y ” u n t i l 2010/2011 – for the industry to improve transparency in the remuneration of brokers and the services intermediaries provide.