The ABI has commissioned a London Economics-style report questioning the
double whammy of FSA and Government regulation on competition and savings
levels which will now form part of its Sandler review response.
The report, by international financial services specialist Oliver Wyman &
Company on The Future of Regulation, will also examine the role that
face-to-face advice has on encouraging individuals to save.
Senior industry sources say the research was commissioned before the
Sandler review as a reaction to “regulatory and review overload” and aimed
to provide empirical evidence on whether double regulation by the FSA
coupled with Government Catmarking delivers any consumer benefit.
ABI head of life insurance Francis McGee says: “The ABI has commissioned
some work to look into some of the issues Sandler has raised as well as
others which may be affecting the savings market, such as the effect of FSA
regulation and the regulation of financial products by Government. Part of
the research will be assessing the contribution financial advice makes to