Insurance rules stripped back

The FSA will remove gold-plated elements of the general insurance regime

The Financial Services Authority (FSA) is to remove some of the gold-plated elements it has been criticized for in its implementation of the EC’s Insurance Mediation Directive in the UK. Just over two years since the rules were first transposed into national law, the UK says it will strip some of the more onerous requirements back to the basics of the original EC directive.