John Ellis, spokesman for the Life Insurance Association, has largely welcomed today's proposals from...
"Today's ruling from the FSA is a very limited proposal, although the government may believe that this will help them to sell more stakeholder pensions.
"There are strong disclosure issues which still need to be addressed. We have always thought there ought to be some guidance as to how people adopt or select products, and what should be said to clients.
"What do you say to clients when you have three competing products if you are a tied agent? The FSA has always said you should select the best product. But how can you under these conditions. Are the advisers going to imply that they independent?
"There are also issues of redress and complaints to consider. There ought to be one port of call for complaints that people can refer to, but the problem is that there are going to be a variety of issues cropping up that have not been rectified by these rules. The FSA is talking about creating some sort of manufacturer and advisers complaints procedure to fill the gaps, but people will end up getting lost in the footwork of trying to find out who should deal with the complaints, and this means complaints will take a long time to rectify."
Smoking biggest culprit; obesity second
Average earner will gain £840 in 2018
Will also move heritage items
Responding to letter from Treasury Committee chair Nicky Morgan