M&GI promos still need work

The FSA has published a report detailing its financial promotions work over the last two years, including an evaluation of industry progress and an outline of future plans in this area. The regulatory body evaluated nearly 1,000 financial promotions and found, on the whole, there has been a drop in the number of promotions regarded as high risk to consumers. But while the number of investment promotions which fell below regulatory standards has dropped from 52% in 2004 to 32% in 2006, there have only been “limited” improvements in the general insurance and sub-prime mortgage sectors. ...