RDR protection paper: FSA's 'independent' and 'restricted' labels to be dropped for protection

The FSA had previously suggested, in Consultation Paper 09/31, that it was considering reading-across RDR labelling to pure protection, introducing definitions for advisers to be either 'independent' or 'restricted'. The regulator said, in CP10/8, issued today: "too many consumers have a limited and incorrect understanding of the cover and other features of their policies." It added: "In our research work, we found that a common failing among advisers was inadequate explanation of the extent and limitations of cover. Our priorities now for pure protection are to deal with these issue...