Size was speaking at the Financial Services Expo in London, where he discussed how field teams carry out inspections of brokers, for example when they interview clients.
Size said: “We will issue a formal warning and we will put in an action plan with our business development managers to drive forward quality.
“Generally the majority of brokers who receive a warning – we nickname it a ‘yellow card’ – actually go on to improve the quality of their business going forward so it’s a win-win.
“We’ve addressed the issue, they’ve addressed the issue and the improvement comes through.”
