Life Assurance and Unit Trust Regulatory Organisation (LAUTRO).
A Self Regulating Organisation (qv) whose member firms are, for the most part, insurance companies and friendly societies engaged in retail marketing of life assurance products, pensions and unit trust products.
An important LAUTRO rule obliges advisers, whether independent or representing a particular company, to issue a Buyer’s Guide which, inter alia, points out the essential difference between an independent adviser and a company representative.

Largely replaced these days buy the statuatory requirements of The FSA

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