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Now ABI to review the effects of regulation

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

savings behaviour.”

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