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No let-up for with-profits

The regulator has pledged to continue its crackdown on with-profits and will publish final rules for providers later this year.

In its business plan for 2011/12, published this week, the FSA says: “We will follow up on proposals to strengthen the effectiveness of the with-profits.”

In February, the regulator put out a consultation paper on protecting with-profits policyholders, which identified widespread weakness in the governance of with-profits firms and highlighted concern over the quality of consumer communications.

The FSA also plans to publish a further consultation this year on post-sale communications to with-profits policyholders.

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  1. “proposals to strengthen the effectiveness of the with-profits”?

    More like proposals to weaken the viability of with profits. Does anyone recommend with profits any more?

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