Independent FSA review 'ignored mis-selling' - papers 1 May

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Consumer groups have branded an independent review of the Financial Services Authority as "inadequate" and "a missed opportunity" after it sidestepped an examination of the regulator's role in mis-selling scandals, reports The Guardian .

Which? said it had many concerns about the FSA's efforts to protect consumers that were not addressed in the report. It called for a further review to assess criticism of the FSA's role as a consumer watchdog. A spokeswoman for Which? said the FSA had failed to support consumers who suffered from financial mis-selling and acted in a way that was detrimental to consumers. “Whether you are talking about endowment mis-selling or financial promotions, we have had concerns about how the FSA has protected consumers.” ABN AMRO IS understood to have made fresh demands to Royal Bank of Scotland t...

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