FSA planning to reduce burden of key features

By Kira Nickerson Intermediaries will no longer have to send out post-sales key features documents f...

By Kira Nickerson Intermediaries will no longer have to send out post-sales key features documents for life assurance products if recent FSA proposals are accepted. The authority is currently consulting on its source book, which sets out its stance on a number of industry issues, including the presentation of key features documents. Under the existing regime, advisers must issue customers a second set of key features confirming those issued at pre-sale, but this only applies to life assurance products. Collective investment schemes have never had a requirement to send post-sale key feat...