ABI warns regulators over 'one size fits all' approach
Regulators and governments must not harm other industries such as insurance, as they deal with the banking crisis, the Association of British Insurers (ABI) has warned.
In its new report Restoring Market Confidence, which has been published ahead of its biennial conference on 9 June, the ABI said that any changes should tackle the problems that arose in the banking sector, not apply a 'one size fits all' set of remedies to the rest of the financial services sector.
The ABI report also argued that regulation must not inhibit the ability of firms to offer competitive products for consumers, or add unnecessary costs to businesses. It has come ahead of the deadline
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