FCA warns firms to check PI cover as FOS limit doubles
PI could rise by 500%
Email sent to adviser firms on Friday reminding them to check that they have cover for today's limit increase to £350,000
The Financial Conduct Authority (FCA) has advised firms to make sure their professional indemnity (PI) insurance policy covers the increased FOS compensation award limit, which kicks in from today. On Friday, the FCA sent an email to some adviser firms reminding them to double-check their PI policy provides cover for the new Financial Ombudsman Service (FOS) limit, which rises to £350,000 today (1 April). COVER's sister publication, Professional Adviser understands the email was not sent...
More on Regulation
CII guide: What is signposting?
Building industry trust
IFAs, have you considered these ways to claw back VAT from HMRC?
Tax expert Kevin Hall explains how VAT can improve cash flow
Industry bodies call to extend Universal Credit disregard to renters
‘Building Financial Resilience of Households in the Private Rented Sector’
More than 200 CII members financially impacted by Covid-19
At least 82 members furloughed or reduced income
