Following a very successful second anniversary event for Raising Standards, I was very disappointed to read the recent front-page report. There is no evidence that the FSA's forthcoming consultation on information disclosure to customers will damage the Raising Standards scheme.
After all, the disclosure standards are only two of the eight that make up the scheme.
At the event, John Tiner made it clear that companies that are already Raising Standards accredited will find the transition to any new regime an easier process and that our work on plain language and other communication issues has rightly furthered the FSA's thinking.
Raising Standards continues to influence the market both in terms of product design and the development of new standards. The scheme will continue to raise our sights right across the industry – as recognised by the FSA with-profits review, the Sandler report and the recent Pensions Green Paper. It would be unreasonable to suggest that the FSA would damage the scheme that is delivering so much for the consumer and has been so widely welcomed.
Chairman, Industry Standards Group, ABI