FI considers that the rules governing financial advice have resulted in notable improvements for the consumer. This is demonstrated in the study The consumer and advice, which was recently published by FI.
Finansinspektionen has examined how well companies follow FI's rules concerning financial advice. The study has included 17 companies in the banking, securities and insurance sectors.
The study indicates that:
FI believes that the study demonstrates that the set of rules and regulations have resulted in increased security for the consumer since the advice has been structured and is documented. It should therefore be considered if there are sections of the Financial Advice Act (the law regulating the provision of financial advisory services for consumers) that can extend to other areas requiring protection, such as areas of the credit business not already covered by consumer legislation.
During 2006, FI will continue to examine how well companies apply the new rules.