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FCA warns on commission disclosure

Reuters runs an article (Insurance brokers risk punishment) on a FCA commission disclosure release reminding insurance brokers of their obligations. The focus seems to be on so called contingent commissions which are paid to a broker under a separate arrangement, often based on a brokers' performance with an insurer. These types of commission have drawn the attentions of Eliot Spitzer in the recent past, and should be included in any disclosure of commission to commercial clients.

posted 2006-12-18T11:15:08