The organisation has reiterated its commitment to a principles based regulation

London, 7th February, 2007: The financial market is abuzz with the release of the FSA's (Financial Services Authority) Business Plan for 2007-08. One of the major programmes is to improve the financial capability of the United Kingdom.

Stephen Haddrill, director-general of the Association of British Insurers (ASI) belives that the FSA's pledge towards less prescription and standard principles for financial service regulation will certainly be "good news" for a beleaguered public.

He goes on to say that "It is vital that consumers are given the tools to make informed decisions about financial services, particularly as we move towards the proposed new pensions system."

The proposed pension system was highlighted in the pension bill that was released in November. The Dept. for Work and Pensions has stated that the bill legislates for long-term pension reforms and intends to make the state pension a stable platform for private saving.

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