A consultation on the Code for life insurers was issued in July 2015; however, it did not include conflicts of interest issues in the sales process as it was felt additional research on trends in other jurisdictions was needed.
A consultation on that specific topic was issued in July 2016.
Following discussions between IoMFSA and MIA, proposals on how to handle conflicts of interest in the sales process in other jurisdictions have been agreed.
Marples confirmed that these proposals will be included in the final draft of the Code.
