David Miller, Insurance Partner at KPMG UK comments on FCA's final report
Responding to the FCA’s final report on the Wholesale Insurance Brokers Market Study, David Miller, Insurance Partner, KPMG UK comments:
“The FCA has previously proven that it’s not afraid to show its teeth, the fact that it has therefore decided to make this a final, rather than interim report, shows they have real confidence in the operation of the market. This will be welcome news for brokers who have been working hard to transform their business models in evolving and uncertain markets. However, it’s clear there’s still work to be done around firms’ management of conflicts of interest, transparency and contractual agreements and every player in this sector will be keen to see progress is made.”
For more information contact:
Christina Bridge, KPMG Press Office
About KPMG in the UK
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 16,300 partners and staff. The UK firm recorded a revenue of £2.338 billion in the year ended 30 September 2018. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and has 200,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.