ABI calls for simple product PPI replacement

It also called on government to clarify its 'simple' definition and suggested a one-size-fits-all approach across the industry will not work. In its reply to the Treasury discussion paper on simple financial products, the Association said it supported the initiative and its desire to help people understand the products they need, make better choices and encourage market competition. However, the ABI raised concerns that the scope was currently too wide and it should only "initially focus on helping consumers save for their future and protect their families". "In particular, we sugg...