FSA publishes final rules on CTFs

The key changes in CP 04/27 Child Trust Funds – Feedback on CP 04/10 and made textare in the areas of periodic statements, credit unions and the removal of duties to send cancellation notices. Cost-benefit reasons are cited for the latter decision, which means there is now no requirement for providers to issue cancellation notices. "Removing this requirement will reduce compliance costs,” the FSA says. ”We consider that any detriment to consumers as a result of the lack of a cancellation notice will be much smaller than the reduction in compliance costs. Consumers will still be mad...