A Parliamentary early day motion which supports the Pensions, Protection & Investment Accreditation Board's Raising Standards initiative has gained the support of more than 80 MPs.
The EDM was tabled in November by Labour MP Paddy Tipping and commends the first five providers to be accredited by the scheme.
The EDM singles out CIS, one of the accredited companies, for praise after it pledged to exceed the minimum standards in the initiative.
CIS general manager (life and compliance) Mike Fairbairn says: “The strength of support from the House of Commons is an acknowledgement of the efforts that the industry is making to promote customer understanding.”
PPIAB chief executive John Cox says: “With 30 per cent of the industry by market share having gained accreditation and 80 per cent of the industry committed to doing so in the future, raising standards represents a determination to build consumer confidence.”
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