FSA consults on travel agent supervision

The FSA has said that it intends to apply a “light” regulatory regime for travel agents when it assumes responsibility for authorisation and supervision of firms from January 2009, particularly given that travel agents are not required to be regulated under the EU Insurance Mediation Directive that governs the FSA’s approach to travel insurance sales by the insurance industry. However, it said: “Irrespective of how light the regime we apply to these activities, it is clear the application fees alone are likely to deter many firms from choosing this option”.