Peter Smith spoke about FSA’s concerns over products that invest in traded life policies, senior life settlements or viatical settlements. He noted the risks inherent in the products and focused on ways to mitigate them. He said FSA expects providers to be clear about their target market for these products, to understand when they will perform, to explain everything to distributors and to monitor what happens in practice. The products are not likely to be suitable for many clients and FSA wants to ensure firms understand this and treat customers fairly.