The panel and the audience discuss the next big thing
Krishnan Guru Murthy asks what the next big thing will be in regulation.
Phil Bayles, director of trading at Norwich Union asserts that with the recent trends in the banking sector, the FSA might have missed the big picture by applying too much focus on Treating Customers Fairly. Bayles also predicts that the FSA might apply the same focus on insurers on how they manage their balance sheets as recently done in the banking sector.
Gary Stevens, managing director of Antur Group explains how regulation costs the smaller independent broker and the need for this to be a level playing field. Norwich Union’s corporate sales director, Janice Deakin, explains how the focus in regulation should shift to offset the unfair cost implications on smaller brokers.