FSA to look at with-profits criticisms

The complexity and lack of transparency of with-profits funds will come under fire from the Financial Services Authority's With-Profit Review. In a paper detailing the Review's background, FSA says the widespread criticism of the complexity and opacity of the products, and the lack of consumer understanding of the nature of the risks are to be examined. The high degree of discretion currently given to the insurance company management over how the with-profits fund is operated and poor early surrender values are also bound to be scrutinised. The Review is due to be debated at an Op...