Regulation

The British Insurance Brokers' Association (Biba) has welcomed the FSA's decision to restart its funding review of the Financial Services Compensation Scheme (FSCS).

Clients' protection needs must take priority over investment ones in a simplified advice regime, the FSA has said.

The British Insurance Brokers' Association (Biba) and the Institute of Insurance Brokers (IIB) have called for regulatory barriers to be lowered and for the current inappropriate style and intensity of regulation to be reformed.

It is perhaps not a little ironic that on the eve of deadline day for three major banking groups to resolve their pre-judicial review payment protection insurance (PPI) complaints, another possible ‘protection' mis-selling scandal is uncovered.

HM Treasury believes simple products by definition should be allowed to be sold without advice.

The Association of Medical Insurance Intermediaries (AMII) has applauded the latest Financial Ombudsman Service (FOS) complaints statistics as a success for the health insurance sector.

Only one complaint about the structure of private medical insurance (PMI) contracts has been forwarded to the FSA by the Office of Fair Trading (OFT), COVER has learned.

The Building Societies Association (BSA) believes regulatory intervention has provided a major barrier to insurance purchases and that the FSA's approach is "pretty flawed".

Any new legislation implementing private sector involvement in supporting the welfare state will not happen until a potential second term, according to the ABI.

Are we simply opposed to simple products? Nick Jones investigates the simplicity minefield.