Law360, London (September 15, 2020, 3:44 PM BST) -- Financial companies with a "riskier" track record may have to pay more toward the sector's compensation scheme or pay more for professional indemnity insurance as part of a broader clampdown on rogue advice and risky investments, according to proposals announced Tuesday.
The Financial Conduct Authority has asked the sector for advice on whether to hit companies that cause the most harm to consumers with higher fees for the Financial Services Compensation Scheme — which is the compensation program for customers of authorized firms — instead of having a flat fee across the industry.
The City watchdog said it wants to consider how...
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!