FSA: treating with-profits policyholders fairly

Publication follows responses and testing of proposals in CP 207, itself the result of discussions following the Sandler Review into the UK financial services industry. In Treating with-profits policyholders fairly: Further consultation, feedback on CP 207 and near-final text, the regulator outlines a number of changes it says will produce the desired outcome for both industry providers and their customers. The main changes include the following: firms may set target ranges for payouts (and monitor whether these arebeing achieved) by reference to unsmoothed asset shares, calculate...