FSCP wants Menu retained

In a letter to the FSA, John Howard, chairman of the Financial Services Consumer Panel, says the regulator has only considered cost when deciding the documents' value. He says: “We believe that when measuring consumer benefits of regulation, a major measure should be consumer confidence, which may not be capable of quantification in pounds and pence.” The FSA withdrew plans to include IDD and the Menu on top of the information requirements for the Market in Financial Instruments Directive in May. However, Howard urges the regulator to take broader aspects of consumer benefit into account...