FSA aims to safeguard with-profit policyholders - papers 1 March

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The FT reports the Financial Services Authority will on Friday consult with the insurance indus...

The FT reports the Financial Services Authority will on Friday consult with the insurance industry over a possible change to company law that would force company directors to take greater account of the interests of holders of with-profits policies. The change could mean that directors would have a duty to put policyholders on a par with shareholders when deciding who has a claim on the assets in with-profits funds linked to products such as endowment mortgages and personal pensions. The FT also writes that a group of bankers at Credit Suisse First Boston played a central role in c...

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