FSA refuses to budge on IFA complaints time-limit

It says it is has "not been able to find the case" where the benefits to advisers of a time limit outweigh the disadvantages to consumers potentially hampered by one. IFA Sesame has led calls for the regulator to introduce a 15 year long-stop rule, arguing it would encourage consumers to review their financial affairs and may be seen as a vote of confidence by advisers. But the FSA remains unmoved. "To justify a long-stop we will have to identify wider benefits to consumers and to firms, such as greater consumer access," a spokesman says. "These benefits would need to exceed the consume...