FSA fears new duties

As the government closes consultation into its travel insurance review, the FSA’s chairman warns against expanding its remit

Sir Callum McCarthy has appealed to the UK government to consider very carefully any temptation to expand the Financial Services Authority’s (FSA) jurisdiction. The Treasury has said it is looking at adding thousands of travel agents to the FSA’s books – one of three options – under a review into the anomaly that leaves the sale of travel insurance by travel agents unregulated while insurance brokers have to be authorised by the FSA.