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Consultations & legislation
29 December 2006
The Treasury is conducting a 12-week consultation aimed at seeking stakeholder's views on whether a policyholder advocate, carrying out the functions intended in the FSA's rule, does not need to be authorised by the FSA. In particular, it is proposed that Part IV of the Schedule to the Financial Services and Markets Act 2000 (Exemption) Order 2001 (the "Exemption Order") is amended to exempt a policyholder advocate from requiring authorisation in respect of the regulated activities specified by articles 25 and 53 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 which relate to arranging deals in, and advising on, investments.
Your views are being sought on whether this exemption is sufficient to protect the interests of consumers and the policyholder advocate, and facilitate an efficient and effective reattribution process by the insurer as well as whether there may be unintended consequences as a result.
In order to ensure the fullest possible consultation on this issue, the deadline for consultation has been extended to 23 March 2006.
The consultation document is available in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
