In what way could retrospective legislation affect advisers working in the protection market after Financial Services Authority (FSA) regulation is brought in? What steps should advisers be taking to ensure they are prepared?
Market views Jason King, Life Policies Direct The threat of retrospective legislation is significant to all protection advisers and not just those working under the Association of British Insurers' (ABI) code of conduct. There are many FSA-regulated advisers who have been conducting 'non-regulated' protection assurance business through their regulated practice, but have not necessarily been overly concerned with the sales process or record keeping, 'safe' in the knowledge that the product is not regulated. While it is fair to say that the basic term assurance contract ...
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