Great British ISA may struggle to be Consumer Duty compliant

Narrow target market

The government may struggle to show the Financial Conduct Authority that the new Great British ISA (GB ISA) is compliant with Consumer Duty regulations, Aegon has warned.

The GB ISA - which gives investors an additional £5,000 allowance to invest solely in UK companies - was introduced last week by Chancellor Jeremy Hunt in the 2024 Spring Budget. Aegon pensions director Steven Cameron has today (11 March) questioned the context of the introduction, however, pointing specifically to the proposed investors and the strength of UK markets. Spring Budget 24: Chancellor unveils Great British ISA following calls from industry "Providers must design products which offer value with a specific target market in mind," he said. "The Great British ISA could rai...