FSA chief executive John Tiner has today said it will put on hold its plans to set up contract certainty guidelines.
Speaking at the FSA's Insurance Sector Conference today, Tiner said: “To demonstrate our good faith in the market's ability to reach its goal, we will not be pressing ahead with our work on the contingency plan of regulatory intervention.
“We are putting it on the back-burner, although we are not taking it off the stove altogether.
The announcement comes after the market showed that it had exceeded its own targets for achieving improvements in contract certainty at the end of 2005.
