When the FSA announced it was to consult on over-70s regulation last month, much of the industry felt such a move was long overdue. Johanna Gornitzki reports
A loud cheer could be heard across the industry last month when the Financial Services Authority (FSA) finally announced its decision to consult on the rule surrounding over-70s regulation. To say that industry experts were delighted with the regulator's decision is a mild understatement. Over-70s regulation has always been met with a lot of criticism. Just like the previous rules surrounding pension term assurance, over-70s legislation forbids protection-only advisers from selling some types of protection policies due to them being classified as investment products. Looking at the presen...
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