Broker under FSA review for client money breaches

The insurance broking division of Berkeley Berry Birch (BBB), Berry Birch & Noble Insurance Brokers Ltd, is subject to a new regulatory investigation over client money rules and the lack of systems and controls in the handling of client money. Until now, the broking unit was the only one of BBB’s four business units that was not under an investigation or enforcement action by the Financial Services Authority (FSA).