ABI

The decision by the Financial Services Authority to keep the RU64 rule in place is "quite immaterial" for the majority of IFAs, says Aifa.

IFAs have criticised protection providers for stalling on their adoption of the Association of British Insurers' new critical illness definitions, warning there will be a "deluge" of changes over the next six weeks.

Government assumptions about the costs of personal accounts could be incorrect if they have been developed from ‘over-optimistic' figures and modelling, warns the Association of British Insurers (ABI).

Life and pensions new business sales reached a record level of £15.5bn in 2006, according to figures from the Association of British Insurers.

Industry bodies have expressed their concerns over the problems introducing auto-enrolment in 2012 will have on group personal pensions.

Plans to raise the contribution cap on personal accounts to £5,000 will mean the decision to remove regulated advice could not be "sustainable", warns the Investment Management Association (IMA).

The Association of British Insurers has warned the Pensions Regulator against overlapping with other organisations such as the Financial Services Authority in its attempt to regulate risks to defined contribution schemes.

The Bank of England signalled yesterday it may need to raise interest rates one more time in the near future to ensure inflation remains under control, according to the Guardian .

A move to industry guidance confirmation is not an attempt by the Financial Services Authority to outsource rule-making to trade associations, claims Dan Waters, asset management sector leader at the FSA.

Norwich Union has adopted the Association of British Insurers' best practice definitions for critical illness (CI) cover and increased the maximum term on protection policies with reviewable CI.