The FCA wholesale review is currently ongoing and seeks to assess whether brokers use their bargaining power to get clients a good deal, if any conflicts of interest exist and how broker conduct affects competition. We also had the insurance distribution directive on the horizon which also looks at remuneration conflicts and clients best interests.
This briefing seeks to explore how the implementation of the IDD may be affected by outcomes of the Wholesale Review, how the IDD impacts on the market and in particular what this may mean for MGAs.
In particular it will cover:
* An overview of the conflicts, remuneration and disclosure elements of the IDD
* How elements of the IDD impact on MGAs directly and indirectly
* How the IDD might interact with other FCA activity
* How firms can start to deal with some of the issues arising out of the IDD at a practical level
