IMD gets tough on advisers in Spain

Spain is the latest European country to have introduced more onerous disclosure requirements under an Insurance Mediation Directive. Shelley Robertson, international marketing manager at Skandia, said it will require IFAs to present clients with a choice of products. Robertson said: "Spain has recently published a bill to implement the Directive. This provides that a fair analysis entails that advisers present their clients with a minimum of three products. Logically, they will then recommend a particular product for reasons that they state. "It also provides that intermediaries have the ...