FSA defends realistic reporting approach - papers 24th March

According to the Scotsman, FSA head of insurance regulation David Strachan yesterday stressed the new approach would prove justified over the longer term. Refering to the close scrutiny of Standard Life, he also pointed out that the regulator was not setting out to close down mutual life assurers or to "bleed with-profits dry". He added: "Yes, we are in a period of readjustment, but ultimately the benefits of a more risk-sensitive and transparent regime greatly outweigh any short-term pain." MEANWHILE, THE Daily Telegraph reports it was fears over increasing consumer debt that con...