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The rule introduced by the UK Securities and Investment Board that bodies such as banks and building societies must choose either to give independent advice on all brands of life insurance and unit trusts, or confine themselves to selling the products of only one company. The intention was to ensure either that advice was truly independent, or that customers were aware that it was not. The actual effect may have been to reduce the amount of information available to consumers of investment products.

Subjects: Business and Management — Economics.

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