How do you think the FSA would respond if a financial services firm said something was a success when it had in fact been a failure? Could this be considered misleading under the terms of financial promotion rules?
The question has to be asked as the government’s latest campaign to promote stakeholder products says launch and take-up of financial services stakeholder products has been a “success”. The industry’s response has been to laugh at such a suggestion, accompanied by cries of anguish as it has been arguing for four years the concept and promotion of such offerings is flawed and sales have been extremely low.And yet the government persists in suggesting stakeholder has been a success. According to the Collins English Dictionary, the definition of success is: the favourable outcome of som...
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