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21 October 2002
The consultation document, Regulating Insurance Mediation, sets out the Government's intended approach to regulating the sale of general insurance products. The Government believes that regulation by the Financial Services Authority (FSA) will enhance consumer protection in an important sector of financial business. It will also simplify and streamline regulation. The FSA will be given responsibility for regulating both mortgage business and the mediation of general insurance from the same date, October 2004. Intermediaries selling a range of products - general insurance, pensions, or mortgages - will come under the FSA as single regulator, minimising compliance costs. The measures in the document, together with forthcoming FSA rules, will also implement the European Union’s Insurance Mediation Directive. This is a key step in completing the single market in financial services.
Responses should be sent by the 31 January 2003 to:
Mr. Mark Baldwin
H M Treasury
1 Horse Guards Road
London
SW1A 2HQ
Telephone 020 7270 1362
Fax 020 7270 4694
Email Mark Baldwin
The document Regulating Insurance Mediation is available below 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.
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