Responding to the FSA's consultation paper on product information, the ABI has questioned whether the proposals "offer sufficient improvement" to the current situation.
An ABI statement welcomed the plans for recognising the role of the Raising Standards quality mark scheme. However it criticised the FSA for calling on companies to make changes to their practices.
ABI director general Mary Francis said: "Big improvements in product literature have been delivered over the last 18 months as part of the industry's own Raising Standards quality mark scheme.
"We urge the FSA not to replace one set of prescriptive rules with another. We question whether these proposals are consistent with the Sandler report's emphasis on low cost, simple and flexible products."
