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Member, Beacon International Group, Ltd.
Insurance brokers in the United Kingdom are accusing the Financial Conduct Authority of backtracking on its word to introduce "proportionate" red-tape for them, The Independent reported.
Brokers claim that instead of getting assistance to ease their burden, they are being subjected to a series of probes into their industry.
A national broker association said the reviews are "causing an obstruction to serving customers," and this "certainly doesn't feel proportionate, particularly given the low risks of the broking industry."