Blog: FSA is willing to listen to the protection market

clock

The FSA is currently consulting on its guidance for payment protection insurance (PPI) and potential replacement products such as short-term income protection (STIP).

Steve Devine, chairman of trade body Protect, produced a personal blog following his meeting with the regulator to discuss its plans and the potential impacts. The FSA's main message is that it welcomed opinions from all stakeholders and it has not named any specific products that are cause of concern. However, there are a vast amount of short term protection products that have been in place for many years and are not PPI products but could be captured in this net, so the guidance relates to both new and existing products. At present the FSA holds the view that debt waiver and debt...

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 Regulation

FCA revokes passported Irish firm's temporary permissions

FCA revokes passported Irish firm's temporary permissions

Wellington Court Financial Services cannot carry out regulated activity

Isabel Baxter
clock 09 October 2023 • 1 min read
FCA cancels permissions of Hove firm Albany Financial Consultants

FCA cancels permissions of Hove firm Albany Financial Consultants

Cancellation of Part 4A permissions enacted with immediate affect

Hope William-Smith
clock 01 September 2023 • 1 min read
Labour branded 'short-sighted' for vowing to battle lifetime allowance

Labour branded 'short-sighted' for vowing to battle lifetime allowance

Consultancy says attention on pensions is better spent elsewhere

Jonathan Stapleton
clock 13 April 2023 • 1 min read