Brokers Unaware Of Senior Managers Regime, Study Says

Law360, London (October 24, 2019, 12:01 PM BST) -- Nearly half of U.K. insurance brokers are not aware of an impending Financial Conduct Authority regulation designed to encourage executive accountability, according to research published Thursday.

The Senior Managers and Certification Regime will become binding on brokers from Dec. 9, a year after it was introduced for U.K. insurers.

Insurer Ecclesiastical surveyed 250 brokers and found that just 56% were aware of the regulation. Some 64% of provincial brokers, often staffed by less than a dozen employees, were aware of the changes, compared with 27 percent of staff at national brokerages.

Hardly any brokers, just 4%, said they knew everything they...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS