The ABI has given the Sandler report a qualified welcome.
ABI director general Mary Francis says: “The Sandler report can help deliver confidence for consumers and stability for the industry. Many of Ron Sandler's ideas reflect best practice and new thinking in the savings industry. We particularly welcome his support for simpler products and less red tape."
"The Sandler review confirms that the industry has made real progress in recent years, for instance through the Raising Standards quality mark scheme. The proposals for greater clarity about the way with-profits products work include many of the ABIs own ideas. More needs to be done, of course, and Ron Sandlers recommendations provide a good basis for further improvements.