Protection should equally be the cornerstone of the Financial Conduct Authority’s (FCA) regulation for consumer outcomes, according to the Protection Distributors Group (PDG).
In response to regulator's latest ‘Dear CEO' letter, sent by the FCA's director of insurance, Matt Brewis, to providers of protection products this week (20 September), the PDG said the FCA's guidance for firms on ‘how best to provide support within the current rules' refers exclusively to investment decisions. As such, the group has called for clarity as to whether this reads through to protection in its entirety and suggests for an equivalent document to be produced that relates specifically to pure protection. "We strongly believe that long-term financial protection insurance shoul...
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