Aifa has claimed that the FSA's depolarisation proposals err too much on the side of promoting...
Aifa has claimed that the FSA's depolarisation proposals err too much on the side of promoting competition at the expense of consumer protection. Responding to consultation paper 166, Paul Smee, director general of the trade body, said the proposal of set ranges of products that tied advisers could sell was not bad in itself but needed careful regulation. He added: 'The new model places almost total reliance on competition. We suggest that the regulator should be more proactive in specifying what controls need to be in place so that the ability to switch out of the range does not lead to allegations of mis-selling.'
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After 14-month FAS programme
More than half of people over the age of 55 see financial security as a top priority in retirement, yet a third allocate more time to buying a new car, research from Legal & General (L&G) has found.
Rebranded from OMW
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