ABI to FSA: Don't over-regulate products

The industry body says the FSA does need to develop new rules and regulations or introduce "further radical interventions", claiming such over-regulation risks stifling the market and restricting consumer choice. In January, the FSA launched a wide-ranging discussion paper on product intervention where it outlined plans to give the FSA and its successor body powers for greater product intervention to help protect consumers. In particular, the regulator said it could force advisers to take further qualifications when advising on specific non-mainstream products it fears could lead to p...