What are the regulatory considerations for non-EU brokers?
If you are established outside of the EU you will need to show that you are registered with or authorised by an appropriate regulatory organisation and that their requirements are similar to those required in the EU. You will also be required to demonstrate not only that you meet the criteria that apply to EU brokers but also to: • Whether you have appropriate knowledge and ability to conduct insurance business in the London insurance market. • Whether your firm and its directors, partners, employees and controllers are of good repute. • The adequacy of your capital and financial resources. • Whether you comply with all laws, rules and fiscal requirements applicable to you as an insurance intermediary where your firm is established and where it conducts or will conduct business.
