Basic advice regime still detrimental to consumers - FSCP

Details of the FSCP submission to the FSA’s CP04/11 on the basic advice regime suggest the consumer group hopes the third round of FSA testing – of its scripted questionnaire for the basic advice process – shows “sufficient proportion of good outcomes to suggest the FSA should go ahead”. In the meantime, the panel suggests: disclosure documents should be tailored to help consumers understand the limits of basic advice and their role in the process; product guides should better explain the risks and implications for flexibility and withdrawal of products; better explanation should be ...