The FSA has set out further details of the post-implementation reviews of the mortgage and general insurance regimes.
The reviews, announced by FSA managing director Clive Briault earlier this year, will investigate the effectiveness of the regimes.
The initial focus will be on how far the FSA conduct of business requirements for mortgage and general insurance firms are delivering the intended outcomes for consumers.
The FSA has identified disclosure requirements, and advice and selling standards, as key areas within both regimes where it plans to undertake early consumer research.
The first stage of the mortgage review will begin at the end of this year, and the FSA will be aiming to feed back the initial findings in the summer of 2006. The general insurance review will begin in April 2006, and the overall findings should be available towards the end of 2006.
Director of retail policy division Dan Waters says:
“Naturally we recognise that it is still early days, and that we have to be realistic about the timescales in which the various objectives of the new regimes may be achieved. That’s why the reviews are rolling programmes which will measure the outcomes of the regimes in stages”