ABI

The Retail Distribution Review could "raise the bar" of adviser qualifications, and restrict the choice available in an attempt to create a comparable standard across the country.

The biggest barrier to protection sales is a poor reputation, according to Nick Kirwan, chair of the ABI Protection Committee.

The Association of British Insurers has attacked the way the government is tackling personal accounts, warning it could end up with a "compromised system" and "a full-scale assault on existing good pension provision".

Future supervision of outsourcing firms will take into account industry guidance issued by the MiFID Connect project, says the Financial Services Authority.

Scottish Provident is to rebrand with a new logo in blue and gold colours to signify the Scottish flag and gold standard service.

The Financial Services Authority has moved to reassure the industry it will not bring enforcement action on the back of ‘good practice' industry guides once it moves to a principles based regime.

Trail commission is no more than upfront an fee paid over a period of time and the ABI should be applauded for recognising this, according to Andrew Fisher of JS&P Towry Law.

James Purnell, Minister for Pensions Reform, has hinted the government's response to the personal accounts white paper will reject the idea of including any additional benefits or "bells and whistles" to the scheme, such as death benefits, or early drawdown....

Cross party consensus has been achieved on the principle of personal accounts, but discussions are still ongoing about the details of the new system, says George Osborne.

Calls by the Association of British Insurers to ban trail commission have been branded "crazy" and "sad" by advisers.