CML calls for clarity on provider-distributor roles

In its response to the FSA’s discussion paper on the responsibilities of providers and distributors, the CML argues the paper merely repeats what is already believed to be the current position, rather than clarifying the FSA’s expectations as to the respective roles and responsibilities of providers and distributors. In particular, the paper refers to “the nature of the relationship between provider and distributor”, but the CML says it does not give any indication as to the FSA’s expectations, if any, of how this should be evidenced. Some lenders have taken it to imply there should be ...