PS 04/11: technology and other issues

For example, advisers looking to technology as part of a distance solution will need to take heed of the FSA’s interpretation of the Distance Marketing Directive’s words on “durable medium” for storing data on products, contract and other details. The DMD says the internet is not an acceptable “durable medium”, as opposed to, for example, email, yet the FSA says the answer is in how data is stored over the internet rather than use of the internet itself. Firms can use the internet and their websites if they meet three criteria: customers must be able to use the website, it must permit...