FSA wants greater clarity from providers

The regulator today released guidance in regard to its treating customers fairly initiative. It follows consultation within the industry, responding to the request for greater clarity on the responsibilities for providers and distributors through the life cycle of a product or service. The report says “providing limited information to distributors on the assumption that they will have an adequate understanding of the products and associated risks” was a still prevalent problem, as well as “not obtaining feedback from distributors on who is buying or being sold the product”. Customers ...