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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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