FSA officials are pressing ahead with changes to the governance of with profits funds and life insur...
FSA officials are pressing ahead with changes to the governance of with profits funds and life insurance firms by the end of March 2004, despite suggestions from the insurers that it would be difficult to get consumers to understand the governance practices. A key factor in reform of the with-profits regime is the drive for transparency of information, and a requirement on companies to define and publish their Principles and Practices of Financial Management (PPFM), says today's policy statement on with-profits governance. However, insurers argued in their responses to CP167 - loo...
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