EC resisted

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The Independent Online
NEIL HAMILTON, the corporate affairs minister, said there is no need for more regulation of general insurance intermediaries.

His decision is in response to the European Commission's Recommendation that all intermediaries should be registered. There should be a clear distinction between tied and independent agents and a minimum standard of professional knowledge. Mr Hamilton told the annual conference of the British Insurance Investment Brokers' Association that self-regulation offered 'reasonable protection to consumers', and a statutory scheme was not warranted.

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