Lighter touch regulation 'needs professional standards'

Speaking to 250 insurance and financial services industry leaders at the CII’s annual President’s Dinner, Hales suggests increasing consumer confidence and an awareness of the need for long-term savings, combined with the Financial Services Authority’s (FSA) principle-based approach, is creating a “real opportunity” for the industry. But, he warns this opportunity brings with it responsibility, stating: “We cannot afford as an industry to get it wrong and I believe the CII as the professional body for the industry is at the core of ensuring that we do not, through improving knowledge, co...