FSA keeps RU64 rule following consultation

The FSA is to keep the RU64 rule, which requires an adviser to explain to a customer in writing why ...

The FSA is to keep the RU64 rule, which requires an adviser to explain to a customer in writing why the personal pension they are recommending is at least as suitable as a stakeholder pension. Following consultation, the FSA said it did not believe a sufficient case was made for removing the rule. The decision was made after consideration of all information and further discussion with stakeholders. The FSA had delayed its decision on the future of RU64 until the position on the NPSS could be clarified. In a consultation paper published in 2005, the regulator admitted the RU64 requirem...