Head of Policy at the FSA, Eleanor Linton gave the strongest sign yet that it was willing to compromise on the proposal that commercial customers with turnover of £1m or less be treated as personal customers.
Linton said that this issue was the key concern expressed by brokers in their responses to CP160. It had been met with a "widespread lack of industry support", Linton said. The FSA received 260 responses to CP160.
She said the FSA was giving the alternative option; dividing business in terms of commercial or non-commercial "serious consideration".
Linton said that as a result, there would be three more months of consultation on the draft rules which are due to be published at the end of June
