Redressing the balance

letters

CP207 will bring about a fairer system for investors

Julian Stevens,WDS, Bristol Sir, Reading Brian Goldstein's concerns about the likely impact of the FSA's CP207, I cannot help but think he is perhaps over-reacting. One of the FSA's main dislikes about the way with-profits funds are run is that life companies have traditionally used the savage penalties imposed on those who surrender their policies early to boost their maturity pay outs. This, of course, enhances their standing in those all important comparative results tables published in various industry journals and thus encourages further inflows of new business. It does not seem...