FSCP Chair Lord Lipsey in shock resignation

The FSA says his decision to step down as chairman has nothing to do with the outcome of the RDR or his stance on some of the more controversial aspects of Tuesday's feedback statement. He had held the role for just six months Speaking at an RDR conference this week, Lipsey described the sales advice model as 'a nonsense' and criticised the FSA's interpretation of European regulations. A spokesman for the regulator denied Lipsey was forced to resign due to his opposition to the FSA's plans for tied advisers. Speaking today, Lord Turner, chairman of the FSA, says Lipsey and other memb...