§ Mr. Cousins
To ask the Secretary of State for Trade and Industry what legislation or regulation controls or supervises the use of the term insurance consultant or financial consultant; and what agency is responsible for conducting this supervision.
§ Mr. Redwood
There is no legislation governing use of these terms. Rules made by the self-regulatory organisations under the Financial Services Act and by the Association of British Insurers code of practice for non-registered general insurance intermediaries require those who use such terms to make their status clear.