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RISKbitz: Broker kickbacks to be made legal again shock
20 October 2009
Impromptu street parties broke out in the world’s financial centres as insurance brokers heard that they will soon be allowed to reinstate contingent commissions.
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riskbitz
Impromptu street parties broke out in the world’s financial centres as insurance brokers heard that they will soon be allowed to reinstate contingent commissions. Bars serving Eliot Spritzer cocktails were packed with pinstriped intermediaries who partied into the night, high on the prospect of a return to the revenue boosting kickbacks.
Regulators in the US and in Europe are believed to have been worn down by the constant bleating of broker bosses pleading poverty and begging for a level playing...
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