FSA slammed by gov't actuaries - papers 30 April

A MASSIVE ROW has broken out between the FSA and the government's own actuaries over plans to improve protection for life insurance customers, the FT reports. Instead of helping consumers by "shining a light" on boardroom practices, the FSA's plans will just encourage more bureaucracy and actually produce worse outcomes for consumers at the end of the day, according to the actuaries' criticisms. Most of the trouble stems from the collapse of Equitable Life, and subsequent proposals to shift responsibilities from scheme actuaries to boards and senior management. Governme...