Is a fairer financial future for savers on the cards?
Regulation as red tape that ties up business and strangles the economy. It is a transatlantic political trope. Said Javid, the ambitious business secretary, is just the latest to attempt to garner political capital by promising to cut through it and save £10 billion as a result. However, on the same day came a report that demonstrated how very necessary some regulation is. The Financial Conduct Authority, which regulates the financial services industry, published a review yesterday of the treatment of people holding old fashioned life insurance policies – pensions, endowments, bonds and their like. Those that hold them are often locked in for the long term. If they want to take their
