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An Insurance Age lead story this week was ‘Brokers warned of telecoms firms mis-selling call-recording devices’.

Insurance brokers are being urged not to fall victim to telecoms firms pitching call-recording equipment on the grounds of regulatory compliance.

Sean Ryan, a director of 500, was asked to comment.  He claimed they were exploiting the vague wording of the regulations, saying: “The FSA had to take a broad-brush approach to ensure it covers businesses that may offer cross-over services.

“However, it is not surprising to hear that some telecommunications companies may be mis-selling call-recording products and services following the FSA’s policy statement. Ignorance of the applicability of the policy may be used as an opportunity for pushing call-recording technology to companies that do not require it.”

Here at 500 you can be assured not only of our knowledge and expertise but also of our integrity and honesty.

The full article can be read at:
insuranceage.com - ‘Brokers warned of telecoms firms mis-selling call-recording devices’.

The Financial Times Advisor’s lead story ‘IFAs Falsely Targeted over FSA Telephone Recording Rules’ stated that IFA firms are being warned to ignore demands from telecommunication firms insisting that new telephone systems costing up to £30,000 must be bought to comply with new Financial Services Authority (FSA) regulation. Owing to our extensive research in this area, Séan Ryan, a director at 500 Limited, was asked to comment, saying “It’s not so surprising to hear that some telecommunications companies may be miss-selling call recording products and services following the FSA’s policy statement. Ignorance regarding the applicability of the policy may be being used as an opportunity to push call recording to companies who do not require it.” Here at 500 you can be assured not only of our knowledge and expertise but also of our integrity and honesty.

The full FT article can be read at:
FT Advisor.com: ‘IFAs falsely targeted over FSA telephone recording rules’