A note released this afternoon by the FSA argues the regulatory body has no statutory position to de...
A note released this afternoon by the FSA argues the regulatory body has no statutory position to define "mis-selling", leaving IFAs without a definition that might allow PI insurers to offer suitable PI cover. A five-page note "clarifying" what mis-selling is instead looks into the key principles that a company is expected to adhere under FSA regulation, because meeting requirements of the regulatory framework is only "one aspect of a firm's responsibilities to customers", argue the regulator. In particular, the FSA points out that while it could define or catalogue "mis-selling"...
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