FSA under fire over pensions mis-selling

The ABI and Aifa are disputing the FSA's guidance for calculating redress for pension mis-selling, says a story in this Monday's Investment Week. In light of this, both groups are also claiming their members will not be able to provide redress for mis-selling by the regulator's target date of December 2002. The issue centres on the landmark Needler v Taber court case from last summer, and the FSA's interpretation of its consequences differs from legal opinion supplied to several life offices, according to Aifa. The case of Needler v Taber concluded that windfall benefits of a demut...