FSA splits decision under fire - papers 29 December

Not only was the deal announced on Christmas Eve, but it means some firms will escape naming and shaming, while the FSA will make no determination of regulatory breaches and impose no formal fines, the paper says. Those hoping for compensation will now have to wait up to nine months while eligibility is established, the FSA has said. The deal only covers those who held splits shares between July 2000 to June 2002, while claims below £250 “will not be entertained.” CLOSED LIFE FUND consolidators could themselves be consolidated, the FT writes. Industry consultant Ned Cazalet has ...