In response to Philip Robinson's letter (Money Marketing, April 6, 2000),
of course I understand the pecking order of our “regulatory” system.
This is why I went to great lengths to use the generic term “regulator”
with a small r. I am simply pointing out that there is an inconsistent
approach to differing business sectors.
Certainly, opt-out and non-joiners needed reviewing but to carry on
reviewing transfer business that cannot be shown to be suffering a loss is
only fuelling the continued lack of consumer confidence.