FSA denies 'moving the goalposts' on split cap risks

The FSA has quashed suggestions that it was aware of escalating problems with split-capital investments as long ago as March 2001 but did not take enough action to counteract it. Claims that the FSA has been trying to hide their insufficient action, by falling back on a regulatory update note released 20 months ago warning of the dangers of split caps, have been quashed by FSA spokesman Rob McIvor as "nonsense". The PIA update note, titled 'Income shares of split capital investment trusts', was sent to IFAs in March 2001 highlighting the risk that income shares could suffer capital l...