Campaigners cheer FCA pledge to consult on advisers' 'uncapped liability'

A complaints long-stop would lead to "a stronger sector overall", one said. Trade body the Association of Professional Financial Advisers (APFA), insurer Zurich and financial services business Tenet actively campaigned for the re-introduction of a long-stop after the previous regulator, the Financial Services Authority (FSA), ruled it out. The FSA said in 2007 that the potential detriment to consumers of a long-stop would likely outweigh the benefit of providing greater certainty to advisers. But the Financial Conduct Authority (FCA) today said in its business plan it will "conside...