A huge stick has been thrown in the wheel of the FSA's plans to develop rules for the manufacture an...
A huge stick has been thrown in the wheel of the FSA's plans to develop rules for the manufacture and sales of simplified products by its own Consumer Panel, which has rejected outright all the proposals contained in Discussion Paper 19. The panel says that the simplified products would not meet demands of low- to middle-income earners, and as they stand would put IFAs in real danger of being accused of mis-selling because of the relaxation of rules designed to protect consumers. Because of the panel's statutory position, the FSA must now put in writing its reasons for reject...
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