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

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...