Advisers debate FSA product regulation

While most argue its introduction would benefit consumers and advisers, others say the FSA will never pre-approve products because it would then be admitting culpability should anything go wrong. Others cite the costs involved and the added regulatory burden of vetting products before they are introduced to the market as another barrier. During a speech at the 17th Gleneagles Summit on 19 September, FSA managing director of retail markets Jon Pain said well-documented problems with mortgage endowments, bank charges, pension products and payment protection insurance (PPI), among others...