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FSA says it wants stakeholder data

Providers will be required to give stakeholder persistency data to the FSA separately from other personal pension sales, the regulator has confirmed.

They will also be compelled to report stakeholders sold through gap-filling arrangements, the FSA says in its response to Consultation Paper 103.

However it is not forcing insurers to account for stakeholder sales through decision trees individually from others as originally planned, but is encouraging providers to keep track of this information.

Providers say that for a product with such a low price cap, the amount of bureaucratic data they are expected to maintain is frustrating.

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