BIBA launches code of conduct: In a speech at the BIBA conference in Manchester, Steve White, Chief Executive of BIBA, launched a voluntary code of conduct for BIBA members. The code has four principles:
- abide by all relevant laws, principles and regulations;
- act with integrity and honesty;
- act in the best interests of each client; and
- act with skill, care and diligence.
Martin Wheatley praised the code, noting its similarity to FCA's own Principles for Business and the role both sets of rules can play in raising industry standards and ensuring positive consumer outcomes. Steve White also announced that discussions have opened with the Insurance Brokers' Standards Council (IBSC) to explore how the two bodies can join forces to create a single voluntary code of conduct and guidance for insurance brokers. (Source: BIBA Launches Code of Conduct and Begins Discussions to Join Forces with IBSC)