Great British ISA may struggle to be Consumer Duty compliant

Concerns raised over the narrow target market of the new offering

Hope Coumbe
clock • 1 min read

The government may struggle to show the Financial Conduct Authority that the new Great British ISA is compliant with Consumer Duty regulations, Aegon has warned.

The ISA - which gives investors an additional £5,000 allowance to invest solely in UK equities - was introduced last week by chancellor Jeremy Hunt in the 2024 Spring Budget. Aegon pensions director Steven Cameron has today (11 March) questioned the context of the introduction, however, pointing specifically to the proposed investors and the strength of UK markets. "Providers must design products which offer value with a specific target market in mind," he said. "The Great British ISA could raise challenges here as it will have a particularly narrow target market." Cameron noted th...

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 Investment

Future of Investment Festival: Our specialist sessions for advisers

Future of Investment Festival: Our specialist sessions for advisers

Future-proofing advice, building sustainable portfolios, all things SDR

Professional Adviser
clock 19 April 2024 • 2 min read
Why non-transparent managers are behind most failed acquisitions

Why non-transparent managers are behind most failed acquisitions

‘They don’t understand the importance of culture and cohesion’

Rami Cassis
clock 12 April 2024 • 3 min read
Partner Insight: Understanding the investment universe

Partner Insight: Understanding the investment universe

Invesco
clock 12 April 2024 • 6 min read