Industry warned: time is running out
“The FSA has told GISC it would welcome many more responses than it has received to date” advised Catherine Nicoll, Head of Communications at GISC.
“By submitting constructive comments and information to the FSA, general insurance practitioners have an opportunity to shape the regulation under which they will have to operate from January 2005,” continued Catherine Nicoll, “but the deadline of Monday 10 March is fast approaching. If you are not actively engaging in the consultation process, you are not contributing to the FSA's efforts to meet its strategic aim of an appropriate, proportionate and effective regulatory regime in which consumers, firms and other FSA stakeholders have confidence. The FSA is fulfilling its statutory duty to consult, but practitioners from a broad range of the market place must take this opportunity to read the full consultation paper and submit their views. Suggestions on the proposed regulatory regime will help to ensure that regulatory requirements are practical to implement while at the same time meeting FSA's objectives.”
The consultation paper can be viewed or printed via www.fsa.gov.uk/pubs or by calling 0845 608 2372. Responses should be sent by e-mail to: [email protected] or in writing to Steve White, General Insurance Policy, High Street Firms Division, FSA, 25 The North Colonnade, Canary Wharf, London E14 5HS.