Simple products should need no advice - HMT

clock

HM Treasury (HMT) is suggesting simplified financial products should be defined as sellable without advice.

Speaking at reinsurer Gen Re's "Simple" seminar today, Maggie Craig, managing director of life and savings at the Association of British Insurers (ABI) gave a progress overview of HMT's simple products consultation, which began in July 2010. She said: "HMT suggest a simple product would be as straight forward as possible, would aid the understanding of features and comparison and ought to be possible to be bought without regulated advice." She added: "This will excite debate. There is a question mark over does it mean "must" be purchased without regulated advice - as in execution only...

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 Protection

Aviva in high value protection proposition launch

Aviva in high value protection proposition launch

Rising demand for IHT planning

Cameron Roberts
clock 25 August 2026 • 2 min read
Advisers are changing their views on joint life cover

Advisers are changing their views on joint life cover

What represents true value for the client?

Alan Lakey
clock 11 August 2026 • 3 min read
Let's talk 'triple shock': Why the protection gap starts with three dangerous assumptions

Let's talk 'triple shock': Why the protection gap starts with three dangerous assumptions

Three assumptions keeping the protection gap alive

Graham Singleton
clock 28 July 2026 • 5 min read