In May the FSA published its feedback statement on the comments received on the five issues papers published as part of the With-Profits Review. The feedback statement includes a summary of the comments received from respondents on the issues papers, the FSA’s preliminary conclusions and its plans for taking these forward, together with an outline timetable for the issue of consultation papers.
The feedback statement states that the FSA considers that with-profits policies are likely to remain a significant feature of the long-term savings landscape for the foreseeable future. However, the FSA also identifies a number of concerns which it has regarding the management of with-profits funds and the way in which with-profits policies are currently sold. The purpose of the With-Profits Review is to address these concerns and to rebuild consumer confidence in with-profits products generally.
