OFT

Is debt waiver the answer to the protection gap and the end of the PPI mis-selling saga? Paul Walsh finds out.

The £2bn payday loans industry has been referred for a full-blown investigation by the competition commission over concerns that firms benefit hugely from loans that borrowers can't pay back on time.

The FSA and Office of Fair Trading met last month with providers and advisers to debate short-term income protection final guidance. There were demands for the regulator to go further than simply highlighting PPI problems. Has the regulator done its job?...

The majority of polled advisers have said FSA and Office of Fair Trading final guidance on short-term income protection provides complete clarity, amid recent concern over the PPI-style-product guidance.

In January the FSA and OFT issued joint guidance on payment protection products. This is essential reading for IFAs selling protection products - especially those in the mortgage market.

The FSA has said it will provide further guidance on short-term income protection if it received individual demand for it, according to an attendee at a meeting with the regulator yesterday.

The Office of Fair Trading (OFT) and the Financial Services Authority (FSA) will be meeting with insurers and protection industry individuals to provide clarity on recent short-term income protection product (STIP) final guidance.

Firms distributing 'payment protection' products - such as short-term income protection - must ensure salespeople do not have inappropriate incentives to sell them, the Financial Services Authority (FSA) has stressed in new guidance.

Keep It Simple Stupid: The Review of Simple Financial Products is a significant strategic development in the protection sector. Richard Walsh highlights some key issues and a few problems in the making.

The Financial Services Authority (FSA) and Office of Fair Trading (OFT) have postponed the publication of final guidance on payment protection products.