Tony Müdd, divisional director - development and technical consultancy, St. James’s Place, responds to the recent COVER interview with Graeme Reynolds of the Financial Conduct Authority (FCA).
The following article refers to COVER's recent interview with the FCA, click here to read the regulator's thoughts on loaded premiums, rebroking and more. Graeme Reynolds' interview with COVER offers welcome clarity on the FCA's interim stance in MS24/1 that loaded premiums do not, on average, result in materially higher prices for consumers, and the regulator sees no basis for immediate intervention. The logic he articulated is straightforward and can be summarised as: aggregate pricing distributions and like-for-like comparisons show overlap, competition absorbs costs and price rema...
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