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UK watchdog proposes ban on 'opt-out' sales of financial products

( March 25, 2015, 11:26 GMT | Official Statement) -- MLex Summary: The Financial Conduct Authority wants to ban "opt-out" selling practices, in which consumers have to "un-tick" boxes to decline additional options to financial products. The UK watchdog also wants the general insurance industry to give more information regarding product "add-ons," which the FCA has found to be "inappropriate or unsuitable" for many customers. The consultation deadline is June 25.The following is the text is the statement. Please find the consultation document attached below the text....

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