FSA to host special PII seminar for European regulators

David Kenmir, director of the investment firms division at the FSA, told IFAonline last November he planned to invite European regulatory officials to London to discuss the PI situation, because its own work – to try and stabilize the cost and availability of UK-based PI cover – could yet be undone by the implementation of tough PI clauses set out in the European Commission’s proposed ISD. Kenmir notes most European advisers have yet to encounter a PI crisis like that experienced in the UK but the introduction of specific PI regulations across the EU could further restrict PI capacity so...