scottish widows' marketing director believes a lack of awareness could lead to mis-selling
A directive coming into effect this month will force intermediaries to comply with regulation, despite the fact they are not coming under FSA scrutiny until January 2005. The Treasury's Distance Marketing Directive (DMD), which is to be implemented on 31 October 2004, covers financial contracts. For the protection industry, the DMD will effectively extend the cooling-off period for insurance products sold 'at a distance', including those sold over the phone, via direct mail or the internet, to 30 days. Nick Kirwan, marketing director for protection at Scottish Widows, said as the DMD ...
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