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Article: Katz wants equality on adviser selection rules.(Harry Katz)(Brief article)
- Article from:
- Money Marketing
- Article date:
- December 7, 2006
CopyrightCOPYRIGHT 2006 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The FSA needs to ensure that it applies the same rules equally to general insurance companies and life and pension firms, says Norwest Consultants principal Harry Katz.
He told the round table last week that the regulator appears to apply different rules to general insurance compared with life and pension providers when it comes to the controls on the selection process of which adviser firms they choose to deal with.
He said if general insurance providers think brokers are acting dishonourably, they can immediately cut them off but for life and pension companies, the FSA makes cancelling agencies a more tortuous process. Katz said: "A GI provider can ...