Pensions Bill
11:45 am
Paul Myners: Mr. Greenway, your scholarship and interest in this area is well known. However, the issues that arise with personal accounts are no different from those that arise with other retail investment products. Parliament and the FSA have clearly determined the difference between products sold under advice and those sold under information. Personal accounts will be sold under information. That is equivalent, in FSA terminology, to execution only, rather than advice. But, the Thoresen work—and, indeed, that of the industry—in continuing to promote awareness will undoubtedly help people better understand the information that they are being provided with.