Tag: mark steward

July 13, 2016 BY Valentina Kirilova

FCA fines Towergate and former director more than £2m

The Financial Conduct Authority (FCA) has today fined Towergate Underwriting Group Limited (Towergate) £2,632,000 for failings in relation to its protection of client and insurer money. Towergate, an insurance intermediary which holds both client and insurer money, accumulated a shortfall of £12.6 million in its client and insurer money bank accounts which, due to systems…

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