The British Insurance Brokers' Association (Biba) has presented a petition of nearly 7000 member signatures to Parliament demanding the acceleration of the review into the funding of the Financial Services Compensation Scheme (FSCS).
It calls for the House of Commons to urge HM Treasury to speed up the FSA's review of the FSCS consultation with immediate effect. The movement has support from Jonathan Evans MP, Chair of the All Party Parliamentary Group on Insurance and Financial Services, who received the petition and will formally present it to the House of Commons tonight. Evans has also agreed to apply for an adjournment debate on the subject within the House of Commons as an additional call for action on the unfairness of the current funding model. The MP for Cardiff North commented: "The FSCS is clearly in...
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