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Update for unit-linked asset rules

The FSA plans to widen the permitted link rules governing which assets the unit-linked insurance sector can invest in.

It says the rules have been in place for 13 years and have not kept up to date with market changes.It will replace them with principle-based rules, allowing investment in a wider range of assets, with a set of high-level rules for unit-linked insurance funds underpinned by some detailed rules on specific assets.

Director and retail policy and asset management sector leader Dan Waters says: “The permitted link rules are out of date, inflexible and difficult for firms and the FSA to interpret.”

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