ICOB regime to receive FSA restructure

Professional Adviser

Regulation: FSA plans to create two-tier structure for ICOB products

By Lucy Quinton The Financial Services Authority (FSA) is to create a two-tier structure for its insurance conduct of business (ICOB) regime and review its work on protection based products. In its ICOB review, published last month, the FSA said the differences in the risk of consumer detriment between personal protection products and other insurance products groups were enough to warrant the rebalancing of ICOB. However, the FSA stressed that it was not suggesting there were no problems for consumers of 'other' general insurance products. Instead, it questioned whether some of the detai...

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