ABI Simplified advice comment
Peter Jolly, Assistant Director Consumers and Distribution, ABI said:
We welcome the FSA’s announcement that they will consult on guidance for simplified advice processes. The ABI and our members have long been concerned that there is a significant advice gap in the UK, which will grow as a result of the RDR.
The ABI developed guiding principles for simplified advice which were launched at our May 2010 conference and supported by the BBA and its members. We believe these should form the basis of the FSA’s guidance and we are keen to work with the regulator to further refine these.
We hope that we can now move forward quickly and develop the regulatory certainty necessary so that such services can be developed ahead of the RDR reforms being implemented.
Erfan Hussain
Media Relations
ABI (Association of British Insurers)
t: 020 7216 7411
m: 07712 841 184
www.abi.org.uk
-01.png){kind=spacer}