regulator plans shake-up to improve transparency of information released by life offices
The FSA is to tighten up on the way life companies disclose information about their with-profits funds. Changes designed to improve the governance of life offices will make with-profits more transparent, according to the regulator. It proposes to require life offices to disclose how they use discretion in managing with-profits funds and how conflicts of interests are managed. Life insurance analyst Ned Cazlet, who helped draw up the consultation paper, said the changes are needed to ensure another collapse like Equitable does not occur. He added: 'These changes are common sense. We n...
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