The FSA has issued four questions for the protection industry as part of its Consulation Paper 10/8.
The pure protection paper, which forms part of the regulator's Retail Distribution Review (RDR), applies only to sales of term assurance, critical illness cover, and income protection products. The proposals apply to firms that give both investment advice and provide advised and non-advised services for pure protection. However, they do not apply to firms who sell or advise on pure protection but do not give investment advice. The questions are: Q1: Do you agree that we should change our rules that allow firms to elect to sell pure protection under COBS so that they can do so wi...
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