Clifford Chance

Protecting With-Profits Policyholders

8 May 2012

On 7 March 2012, the FSA published Policy Statement 12/4, "Protecting With-Profits Policyholders - Feedback on CP 11/5 and Final Rules" ("PS 12/4"). It sets out a summary of responses by industry participants to CP 11/5 ("CP 11/5"), the FSA's feedback on those responses, and the final Conduct of Business ("COBS") rules, which will come into force on 1 April 2012.

This Briefing considers the impact of the COBS rules on insurers' with-profits business and the mutual sector, in particular.

Download PDF