FSCP slams regulator's no-action on SERPS

The FSA announced today it has found no evidence of widespread mis-selling following its two-year investigation into contracting out of SERPS, but did identify a small group of consumers who may be at a higher risk of having been mis-sold. Of eight million cases, the regulator says only 1.5%, or 120,000 people, have been potentially affected, and will publish a step-by-step guide later this month so people can identify for themselves where grounds for complaints may exist. But the Consumer Panel (FSCP) says it is unfair to place the onus on individuals who may have lost as much as £7 per ...