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Competition probe for polarisation

Polarisation may have to overcome yet another Government hurdle in the

form of a competition commission investigation.

The news comes as Prudential group, which includes IFA life office

Scottish Amicable and direct online provider Egg, throws its full weight

behind polarisation.

Treasury head of financial services Paula Diggle has indicated

polarisation could be referred to the commission, formerly the Monopolies

and Mergers Commission, after the Treasury receives the FSA&#39s

recommendations later this year. The regime has already been scrutinised by

the OFT.

Diggle was speaking at a closed conference on polarisation last Wednesday

where she gave no indication whether she favoured the status quo or

multi-ties. Most other speakers backed polarisation.

IFA Promotion and the Institute of Financial Planning have joined Aifa in

supporting polarisation. The IFP is also writing to the FSA outside the

process, asking that advice should be separated from selling products.


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Back up your troubles

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