Lighter touch regulation 'needs professional standards'

clock

Lighter touch regulation is creating an opportunity for the financial services industry but professional standards are needed to support it, according to Peter Hales, president of the Chartered Insurance Institute (CII).

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Friday Night Takeaway: It's the return of the banks

Friday Night Takeaway: It's the return of the banks

The news editor's Friday Night Takeaway from 10 July

Isabel Baxter
clock 10 July 2026 • 3 min read
Carla Brown on PFS/CII relationship reset and how chartered status is 'essential'

Carla Brown on PFS/CII relationship reset and how chartered status is 'essential'

PFS president and chair joins Professional Adviser in the studio

Professional Adviser
clock 10 July 2026 • 1 min read
FCA spotlights vulnerability in latest Consumer Duty review

FCA spotlights vulnerability in latest Consumer Duty review

Treatment of vulnerable clients still an area of improvement for firms

Sophia Panayi
clock 10 July 2026 • 2 min read