Self-help guides would "not give enough" customer protection - FSCP

The FSA's proposed self-help guide - using selected questions to establish a product's suitability - will give consumers only "second-class" protection, says the Financial Services Consumer Panel. In a response to the FSA's consultation paper 'Options for Regulating the Sale of Simplified Investment Products' , the Panel urges the City regulator NOT to relax consumer protection rules for selling the government's proposed stakeholder products. Guided self-help will not be enough to protect consumers, says the Panel, and adds that there might be a potential for mis-selling if th...