The FSA today put an end to advisers' hopes it would re-introduce a time limit on complaints, declaring "we are not moving".
The blanket absence of the term ‘long-stop' from today's RDR Consultation Paper paper appeared to sound the death knell for a long-stop for UK financial advisers. But this afternoon Dan Waters, FSA director of retail policy and themes, told IFAonline: "We have been around the houses on this hearing the industry's views but no-one was able to put a convincing case for changing it. "We are not moving on long-stop rules." In last November's RDR Feedback Statement, the FSA said it did not believe there was enough evidence of the benefits of the long stop to justify re-introducing it. ...
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