FSA forced to 'name and shame' mystery shopped IFAs

The FSA initially withheld the names of the seven firms investigated for equity release sales. However, the IC has ruled the regulator must disclose the information under the Freedom of Information Act. The FSA also withheld a list of mystery shopped firms, an example of the questionnaire used, the identities of seven firms investigated on subsequent investment advice and the results from firms and advisers. The IC also told the FSA to disclose the covering letter, index of report, summary of findings and suitability for each of the firms further investigated. The regulator initially...