Financial Conduct Authority

"This is a juggernaut that will have many far-reaching implications"

First insurance provider participant

CEO Rathi dismissed concerns as ‘noise’

Advice firms to pay £2,500

'Little to no impact on firms already not meeting obligations'

Based on proposals published in May

The current regulatory framework simply won’t allow this

“The level of harm we are currently seeing is too high”

From £1,151 to £2,200

'Concern of procedural fairness'