Emma RadmoreFCA 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.