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Redress for opt-out add-on buyers mooted

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Redress for consumers who bought add-ons unnecessarily through the opt-out process would be a "logical conclusion" of the Financial Conduct Authority consultation into the sales practice, according to PWC.

The FCA today (25 March) launched a consultation on proposals to ban the use of opt-out sales practices for financial services products.

Steve Folkard PWC director said: "A logical conclusion of this

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Hidden risks in insurers’ culture and misconduct data

Insurers are under growing regulatory pressure to treat non-financial misconduct as a core conduct risk, according to Loka Venkatramana from Pathlight Associates, who says they should use cultural and behavioural data with the same rigour as financial metrics to identify and address problems before they damage customers, staff or the market.

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