FSA asks market to transform 'skeletal' solution into reality

The FSA has met trade association representatives to discuss a market-based solution for greater commission and status disclosure. The FSA made it clear at a meeting with the All-Party Parliamentary Group on Insurance and Financial Services that it would prefer the market to come up with a solution and that discussions with insurer, broker and buyer trade bodies were heading in the right direction. In particular, the FSA wants to see all costs of intermediation set out in an understandable and comparable way, and that the status of the firm offering the advice and the extent to which it...