Investment CAT standard to be scrapped

A statement issued by this morning by HM Treasury says the introduction of “low-cost, risk controlled savings and investment products from 6 April 2005” will essentially remove the need to market and sell certain products as CAT standard products, so the right to do so is being removed. Firms already offering CAT standard products must continue to operate on the same terms, says Financial Secretary Stephen Timms MP, without making changes. However, changes from April 6, 2005, should mean the stakeholder product suite can contain cash deposit accounts, medium term investment products, ...