Editorial: Victory over FSA bully may be short-lived

Feedback from IFAs following publication of the tribunal report was the FSA had finally been put in its place after being told by the tribunal its sweeping statement, about L&G’s mortgage endowment mis-selling, was insufficiently substantiated and therefore unjustified. (See yesterday's IFAonline stories for a breakdown of the report's main comments.) For too long, the FSA has acted like the bully in the playground as there have been occasions when action taken against firms – and the industry in general – has been like using a sledgehammer to crack a nut. This particular case essentia...