In the joint action plan update, ‘Delivering Better Regulatory Outcomes’, the pair outlined what work they had done to improve ties and what they would aim to do in the coming months.
Two of the main areas of study were better links in dealing with non-compliant advertising and the potential for combining the two separate registers into one complete list of all brokers.
The report said: ‘Our intention is to explore how we can align the two advertising regimes. We will listen to the industry’s concerns to see what we can do to reduce the regulatory burden for firms and to increase the clarity and fairness of advertising for consumers.’
Meanwhile, the report admitted it would like to see greater integration of the regulators’ registers. It said:
‘The FSA and the OFT carried out a study to consider whether our two public registers could be integrated to provide stakeholders with a single point of information. It said that the planned use of navigational links between the online registers was, at this time, the most appropriate solution.”
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