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Final Menu rules due second half of year

The FSA plans to publish its final rules in the second half of the year, when it will unveil its policy statement giving feedback on the consultation.

The consultation finishes on June 1, after which the FSA will review the responses and amend its draft rules accordingly. As the Menu is key part of the depolarisation proposals, the regulator will devise the rules for both at the same time.

There will then be a six-month transitional period at the end of which all firms must be in compliance with the new rules. But firms wishing to implement the rules before this date will be able to do so as long as they can meet all the obligations that go with them.

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Talkback

“When banks win business from the industry, it is through lethargy. If depolarisation breeds more lethargy, maybe they will.” Malcolm Fletcher, Fletchers “I am not as positive as Paul Smee. Just because we have won the last few battles against bancassurance does not mean we will win this one. We will have to fight hard.” […]

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