FSA could regulate opt-out advice for NPSS

Giving evidence at the Treasury Select Committee inquiry into the design and regulation of a NPSS, the FSA said there could be a possibility of mis-selling in persuading people out of the NPSS when not in their best interests. Clive Briault, managing director of retail markets at the FSA, said it should be possible to provide people with clear generic information on decisions relating to the NPSS, and information they need to take into account, such as fund choice and certain elements of means-testing which needs explaining, without the need for individual advice. He said preferably thi...