Outlook: FSA rules
Saturday 14 August 1999
The pickle into which United Assurance has got itself into is no doubt at least partly of its own making. But Alan Frost, the chief executive, has a point when he says that in the real world, where companies have to make money or go out of business, the cost of compliance with an ever more onerous FSA selling regime is forcing it to abandon the traditional door-to-door collections which for many in the sink estates is the only genuine opportunity to save. This is not an isolated phenomenon. Ian Harley, the chief executive at Abbey National, recently pointed out that its desire to make buying financial services products simpler and more straightforward for customers was frequently being frustrated by waves upon waves of rules about what customers have to be told before they can sign on the dotted line. I
Industry insiders have likened the regime to a customer walking into a shoe shop and asking for carpet slippers only to be told to sit down for two hours and answer a questionnaire so that their current footwear needs can be properly assessed. Decision trees which are the latest FSA fad may be good for hanging management consultants on but they aren't going to make granny stop stuffing her fivers under a mattress.
Jennifer Lawrence attacks mass media again over body image
scienceScientists find the answer to a question that even puzzled Darwin
A very timely Great Train Robbery and a frantic 24 Hours in A&E among the highlights
arts + entsThe 'Friends' actor on his new role as campaigner on addiction issues
Sun will 'flip upside down' within weeks, says Nasa
Colin Farrell reveals ‘affair’ with Elizabeth Taylor: 'She was my last romantic relationship'
Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
Devyani Khobragade: India-US row escalates over arrest of diplomat in New York
Peter O'Toole: Tales of the late film icon
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- 2 Sun will 'flip upside down' within weeks, says Nasa
- 3 Christmas comes early: Justin Bieber announces he's 'retiring from music'
- 4 Children evacuated from swimming pool after prosthetic leg mistaken for paedophile
- 5 Status: Wet - Woman walks off a pier while checking Facebook on her phone
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