RU64 decision shows continued lack of trust in the industry

The FSA's recent decision to maintain the widely unpopular RU64 shows the regulator's alarming knack...

The FSA's recent decision to maintain the widely unpopular RU64 shows the regulator's alarming knack of second guessing itself when it comes to pensions. As the ABI commented, it is also difficult to reconcile with the much-vaunted drive towards a principles-based regulatory regime. The rule basically requires an adviser to explain to clients in writing why a personal pension recommendation is at least as suitable as a stakeholder scheme. After delaying the call on its future for the best part of two years, the FSA finally decided there is not a sufficient case for removing the rule. In...