Protection specialists welcome FSA's protection conclusions

The FSA’s decision to allow firms who sell pure protection under COBS – rather than ICOBS – to continue to do so after the RDR is implemented, without having to apply the rules on Adviser Charging to their pure protectuion sales, has been applauded. In its final rules on remuneration for pure protection sales under the conduct of business sourcebook (COBS), published today, the FSA says: "If firms wish to charge a single fee for their pure protection services and investment advice, then they are free to do so. The remuneration transparency proposals seek to help customers understand how ...