The LISA may have turned out to be more challenging than expected, says Adrian Boulding, but that just makes the financial services sector's task of engaging and communicating with savers that much more important
With four months to go until the launch of the Lifetime ISA (LISA), the Financial Conduct Authority (FCA) has just published draft changes to its rulebook to cover the selling of the new product in its Consultation Paper 16-32. In this 48-page humdinger, the regulator identifies 11 potential risks that purchasers of a LISA may be exposed to. These risks fall into five key categories - complexity, contributions, investments, access and tax. The FCA intends to amend its handbook so that LISA sellers and providers must disclose these risk warnings to customers when they offer the product. ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
