L&G: Advice rules must ease if product regs tighten

Laura Miller
clock •

The rules on giving advice would need to be eased up if the FSA pushes for a rumoured tightening of product regulation, says Legal & General's (L&G) executive director of savings.

FSA CEO Hector Sants has called repeatedly this year for the watchdog and the new Consumer Protection and Markets Agency (CPMA) to have a greater say in the design, development and marketing of products. In what would be a major increase in powers, he also wants the CPMA to be able to ban those it deems "unsuitable". But Mark Gregory says while consumer protection is important, L&G would lobby against a double tightening across both advice and product manufacturing. "If there is greater product regulation then some of the advice regulation would need to ease up." Speaking at a T...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA secures money back for victims of £1.5m crypto fraud

FCA secures money back for victims of £1.5m crypto fraud

Obtains confiscation orders against Raymondip Bedi and Patrick Mavanga

Sophia Panayi
clock 28 September 2026 • 1 min read
FOS partially upholds complaint against SJP for failing to provide annual reviews

FOS partially upholds complaint against SJP for failing to provide annual reviews

SJP failed to provide five annual reviews for client

Sophia Panayi
clock 23 September 2026 • 3 min read
FCA: Simplified advice rules update imminent; MPS review outcome set for 2027

FCA: Simplified advice rules update imminent; MPS review outcome set for 2027

Regulator's Kate Tuckley gives update

Isabel Baxter
clock 08 September 2026 • 3 min read