Regulator retreats over new rules

Last month, the Financial Services Authority (FSA) published the eagerly awaited follow-up to its consultation paper CP 160 - and made two major U-turns after wide representation from the broking and insurance industries.

In CP 187, the regulator has backed down on its two most controversial proposals: the decision to categorise firms with a turnover of less than £1m as private customers; and categorising critical-illness, private medical and income-protection insurance as high-risk. Long-term

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