ABI sees 'minimal future benefit' from compulsory commission disclosure
The Association of British Insurers (ABI) has responded to the European Commission’s proposals including on the Insurance Mediation Directive II.
The ABI confirmed that it supported the Commission's aim to provide high levels of protection to consumers purchasing investment products but said it had concerns about some of the other proposals.
Biba has already hit out at the European Commission's decision to bring forward a five year timetable for compulsory commission disclosure.
The insurer trade body highlighted that the changes needed to benefit consumers.
Maggie Craig, director of financial conduct regulation at the ABI, said: "While
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