Thistle Initiatives joins the Managing General Agents' Association

Thistle Initiatives is pleased to announce that we have become members of the Managing General Agents' Association (MGAA).

The MGAA is the representative trade body for those working within the MGA profession in the UK and Ireland. It provides members with support and guidance through programmes of learning and insight and sits at the forefront of discussions with key government and regulatory bodies.

Thistle Initiatives helps MGAs and delegated authority businesses address the issues that create FCA scrutiny, commercial drag or personal exposure for Boards and Senior Management Functions (SMFs).

Led by Partner Nikki Bennett, who has 30 years of FCA-regulated insurance compliance experience, we provide clear judgement when it matters most, helping firms turn regulatory pressure into proportionate decisions that protect customer outcomes while maintaining commercial momentum.

We are typically called upon when something has shifted: the FCA has engaged, growth has outpaced controls, a compliance capacity gap has emerged, or a transaction or change programme requires regulatory credibility. Our focus is on delegated authority oversight, governance, Consumer Duty outcomes, AR and Principal oversight, and conduct risk, delivered at Board level with practical implementation support.

Common MGA challenges we help solve

• FCA information requests and interventions (S165, VREQ and OIREQ), where the initial response sets the tone.
• Preparing for, managing or remediating a Skilled Person Review (S166) and associated remediation plans.
• Delegated authority oversight that appears robust on paper but fails in practice, including oversight of binders, bordereaux, controls, MI and governance.
• Consumer Duty evidence that does not adequately demonstrate outcomes or withstand Board challenge and attestation.
• AR and Principal oversight weaknesses relating to responsibilities, monitoring, MI, accountability mapping and the demonstration of reasonable steps.
• Growth initiatives, new products, new distribution arrangements or new capacity where controls must scale at pace.
• Authorisation applications or permissions changes where the regulator requires a credible operating model, not simply a compliant application.
• M&A and investment due diligence where conduct risk, delegated authority arrangements and legacy issues can crystallise post-transaction.

Clients engage us as a fractional compliance leader or for targeted project support. We provide Board and Executive Committee briefings, FCA engagement strategies, remediation governance and hands-on delivery through to a sustainable control environment.

The outcome is confidence: clearer decision-making, credible oversight and constructive engagement with the FCA, demonstrating strong governance and positive customer outcomes while maintaining commercial momentum.

Meet the Expert