The insurance industry's decision to drop the question it asks about sexuality on its application forms in favour of one about possible exposure to HIV is very welcome, and not before time.

Sadly, however, the gay community should not regard this as proof that they are less likely to catch the HIV virus than before. Statistics from the Health Protection Agency show that the number of gay men contracting the disease is still on the increase - 1,956 men were diagnosed as carrying the virus last year compared to 1,706 in 1990.

And heterosexual people should regard it as a warning. Whereas 534 heterosexuals contracted HIV in 1990, a massive 4,034 caught the virus last year. Other sexually transmitted diseases are spreading equally quickly. The message about safe sex has obviously been forgotten - or was never learnt - over the last decade. No wonder insurers are now more interested in applicants' sexual behaviour than their sexuality.

Why the insurance industry believes people will give an honest answer remains a mystery, however. It will be interesting to see how many 'early' life insurance claims are queried, and even rejected, in the years to come.

Last month I warned that the government's decision to allow residential property to be held within self-invested personal pensions from next April could trigger another mis-selling scandal. I pointed the finger of suspicion at financial advisers; in the meantime, advertising by property developers, including Galliard Homes, is now raising eyebrows.

Galliard is promoting the benefits of buying an off-plan property through a Sipp as well. 'Potential exists for buying within your Self Invested Personal Pension... which would amount to a 40 per cent tax saving of £60,000 on a cash purchase price of £149,995,' says a recent Galliard advert.

While many people will undoubtedly be attracted to the idea of investing in property through a pension, there are many reasons why it will not suit everyone. Galliard is not a regulated financial adviser, and is therefore not in a position to recommend such a move. But the Financial Services Authority is unable to act because Galliard is not offering an investment service or activity, and Sipps will remain unregulated until 2007.

Surely this is evidence that the government should speed up regulation? A lot of damage could be done in the meantime.