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Autif and the ABI give cautious welcome to regulatory change

The Association of British Insurers and the Association of Unit Trust Investment Funds have cautiously welcomed the FSA&#39s proposed changes to regulation.

The ABI says it has to look at the FSA&#39s plans in more detail to ensure they meet the objectives of giving people as much access to advice as possible, create a structure consumers understand and help close the savings gap.

ABI spokesman Malcolm Tarling says: “We are not against change but we will want to ensure any changes improve choice and consumer understanding.”

Autif says it welcomes the FSA&#39s recognition of the need to clarify the cost of advice as distinct from the product and for consumers to understand what type of advice they are paying for.

Autif head of communications Clare Arber says: “We welcome recognition of the points we raised in our response to Sandler. We have never taken sides in the polarisation debate.”

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