FSA accused of favouring banks over IFAs

A nationwide poll reveals the majority of advisers feel the regulator spends a “disproportionate” amount of its time monitoring low-risk organizations who, they claim, account for the tiniest percentage of complaints in the industry. The study, organised by Incisive Media Buzz, also suggests advisers feel the FSA failed in its duties over the Northern Rock crisis and is no longer fit to regulate complex issues affecting the economy. Ron Pritchard, chief executive of IFA Clarkson Hill, says if the FSA wants to solve the biggest problems facing the industry it needs to redirect its resource...