The Financial Services Authority (FSA) has written to price comparison websites urging them to ensure they comply with regulation.
The letter contained proposed guidance and highlighted concerns about a lack of permissions held by firms operating sites. The regulator reminded firms to check they hold the correct permissions for their activities and ensure they have not been giving regulated advice without authorization. The FSA said firms using the comparison tools of a third party, called "white label" services, must make clear to customers which firm they are actually dealing with and who to complain to. It also urged firms to check the permissions held by the provider of comparison tools. The regulator a...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
