ISAs - What does the 'CAT' standard actually mean?

If youre considering saving using an ISA youll want the best deal for you. The government reckons it should direct investors towards products which it thinks are better value so its allocated certain products with a kitemark a CAT standard. But what does CAT actually mean

CashInsuranceStocks & SharesChargesNo one-off or regular charges are permitted except for replacements duplicate statements lost cardsAnnual charge no more than 3 per cent of the value of the fund. No other charges e.g. no separate charge for the guarantee on surrender values. Annual charge no more than 1 per cent of net asset value. no other charges to be paid by the saver.AccessMinimum transaction size £10. withdrawals seven working days or less.Minimum premium no greater than £250 lump sum a year or £25 a month.Minimum saving no more than £500 lump sum a year or £50 a month.TermsInterest rate no lower than 2 below base rate. Upward interest rates to follow base rate changes within one calendar month. Downward changes may be slower. No other conditions i.e. no limits on frequency on withdrawals.Surrender values should reflect the value of the underlying assets. After three years and thereafter surrender values should at least return the premium.Authorised unit trust oeic or certain investment trusts. Fund at least 50 per cent invested in shares and securities listed on EU stock exchanges. units and shares to be single priced at mid-market price. Investment risk highlighted in literatureCommon Requirements