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