FSA says 'pay up' despite fees mistake

Intermediary firm Thompson Prior is questioning the FSA's right to require intermediaries to treat their customers fairly when it does not appear to have applied the same rules to its small firm customers. Alison Prior, partner at Thompson Prior, says despite both informing the FSA one of the firm’s partners had left to set up his own business and subsequently filing two correctly-completed RMARs, the FSA has still invoiced the firm for fees relating to three advisers working for the company. Moreover, regulatory officials have so far refused to acknowledge they have made a mistake and ...