FCA writes to CEOs of LLMI firms

FCA has written a portfolio strategy letter to Lloyd’s and London Market Intermediaries and Managing General agents. It sees the key risks these firms present in:

  • financial resilience and orderly wind-down
  • ineffective governance and oversight of business
  • culture and non-financial misconduct and
  • business models that provide poor oversight of distribution chains

It also asks firms to be aware of cyber risks and operational resilience, a hardening market and Brexit.

Emma Radmore