The Financial Services Authority has implemented a policy which aims to make its enforcement process more transparent and fair, following criticisms by the Financial Services and Markets Tribunal in January.
The FSA says the policy reflects the recommendations of the Enforcement Process Review which was commissioned in February after the case between the FSA and Legal & General over endowment mis-selling raised questions about the FSA’s study of firms when tackling enforcement issues. L&G has not seen the FSA’s proposals yet but a spokesman says: “Everything we’ve seen from the FSA recently has been very positive and we are pleased with the steps they are taking. Generally speaking, things have been going well. We have been talking to the FSA and they are being fair and positive.” One of t...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
